DuPont de Nemours (NYSE:DD) Shares Gap Up After Better-Than-Expected Earnings

Shares of DuPont de Nemours, Inc. (NYSE:DD) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $76.26, but opened at $79.76. DuPont de Nemours shares last traded at $79.97, with a volume of 622,621 shares trading hands.

The basic materials company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.15. DuPont de Nemours had a return on equity of 6.64% and a net margin of 6.35%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DD. Morgan Stanley increased their target price on DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Citigroup decreased their price objective on shares of DuPont de Nemours from $92.00 to $88.00 in a report on Monday. BMO Capital Markets dropped their target price on DuPont de Nemours from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada reduced their price objective on DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a research note on Monday. Finally, StockNews.com upgraded shares of DuPont de Nemours from a “hold” rating to a “buy” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, DuPont de Nemours presently has a consensus rating of “Moderate Buy” and an average price target of $97.42.

Hedge Funds Weigh In On DuPont de Nemours

Institutional investors have recently modified their holdings of the business. CWM LLC grew its stake in DuPont de Nemours by 37.2% in the 3rd quarter. CWM LLC now owns 30,967 shares of the basic materials company’s stock valued at $2,759,000 after acquiring an additional 8,394 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in DuPont de Nemours by 389.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,142 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 2,500 shares during the period. Gateway Investment Advisers LLC purchased a new position in DuPont de Nemours in the 3rd quarter valued at about $205,000. Ritholtz Wealth Management acquired a new stake in DuPont de Nemours during the 3rd quarter valued at approximately $227,000. Finally, Exchange Traded Concepts LLC boosted its stake in DuPont de Nemours by 793.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,045 shares of the basic materials company’s stock valued at $93,000 after acquiring an additional 928 shares during the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

DuPont de Nemours Price Performance

The stock has a market cap of $33.66 billion, a price-to-earnings ratio of 42.32, a PEG ratio of 1.70 and a beta of 1.34. The company has a 50 day simple moving average of $77.57 and a 200-day simple moving average of $81.07. The company has a quick ratio of 1.49, a current ratio of 2.28 and a debt-to-equity ratio of 0.29.

DuPont de Nemours Company Profile

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.