DuPont de Nemours (NYSE:DD) Given New $50.00 Price Target at Wells Fargo & Company

DuPont de Nemours (NYSE:DD) had its price objective cut by Wells Fargo & Company from $100.00 to $50.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

A number of other research firms also recently issued reports on DD. JPMorgan Chase & Co. lifted their price target on shares of DuPont de Nemours from $99.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. BMO Capital Markets decreased their target price on DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. KeyCorp decreased their price objective on shares of DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday. Mizuho lifted their target price on shares of DuPont de Nemours from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Finally, Wolfe Research dropped their price objective on shares of DuPont de Nemours from $89.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.92.

DuPont de Nemours Price Performance

Shares of DD traded up $0.59 during mid-day trading on Friday, hitting $39.74. The company’s stock had a trading volume of 7,328,345 shares, compared to its average volume of 7,253,575. The firm has a 50-day simple moving average of $74.31 and a 200 day simple moving average of $71.87. DuPont de Nemours has a 1-year low of $22.50 and a 1-year high of $40.11. The firm has a market capitalization of $16.64 billion, a P/E ratio of -84.55, a P/E/G ratio of 2.49 and a beta of 1.11. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Monday, July 11th. The basic materials company reported $0.69 EPS for the quarter. The company had revenue of $3.02 billion for the quarter. DuPont de Nemours had a negative net margin of 1.54% and a positive return on equity of 7.85%. Analysts predict that DuPont de Nemours will post 4.38 EPS for the current fiscal year.

DuPont de Nemours announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 6th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the basic materials company to purchase up to 12.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

DuPont de Nemours Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, November 28th. DuPont de Nemours’s dividend payout ratio is presently -348.94%.

Insider Buying and Selling

In other news, SVP Steven P. Larrabee sold 43,208 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $77.17, for a total value of $3,334,361.36. Following the completion of the sale, the senior vice president owned 38,585 shares of the company’s stock, valued at approximately $2,977,604.45. The trade was a 52.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 74,208 shares of company stock worth $5,714,861. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of DuPont de Nemours

Hedge funds and other institutional investors have recently bought and sold shares of the company. Princeton Global Asset Management LLC increased its holdings in shares of DuPont de Nemours by 64.4% in the 2nd quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 143 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of DuPont de Nemours by 186.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 318 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 207 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of DuPont de Nemours in the 1st quarter worth approximately $35,000. Cary Street Partners Investment Advisory LLC boosted its position in DuPont de Nemours by 67.5% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 541 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 218 shares during the period. Finally, Ransom Advisory Ltd acquired a new stake in DuPont de Nemours in the first quarter worth $40,000. 73.96% of the stock is owned by institutional investors.

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.