JPMorgan Chase & Co. Cuts DuPont de Nemours (NYSE:DD) Price Target to $48.00

DuPont de Nemours (NYSE:DD) had its price objective decreased by JPMorgan Chase & Co. from $104.00 to $48.00 in a report issued on Tuesday morning,MarketScreener reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

A number of other brokerages have also weighed in on DD. Wolfe Research dropped their target price on shares of DuPont de Nemours from $87.00 to $39.00 and set an “outperform” rating for the company in a research report on Tuesday, November 4th. Weiss Ratings cut shares of DuPont de Nemours from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, November 7th. Royal Bank Of Canada increased their price objective on shares of DuPont de Nemours from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 17th. KeyCorp reduced their target price on DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Citigroup increased their price target on DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

DuPont de Nemours Price Performance

Shares of NYSE DD traded down $0.95 during mid-day trading on Tuesday, reaching $39.65. The company’s stock had a trading volume of 6,755,818 shares, compared to its average volume of 7,232,358. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.41 and a quick ratio of 0.94. DuPont de Nemours has a 52 week low of $22.50 and a 52 week high of $41.23. The stock has a fifty day moving average of $71.45 and a two-hundred day moving average of $71.21. The firm has a market capitalization of $16.61 billion, a PE ratio of -84.36, a P/E/G ratio of 2.49 and a beta of 1.11.

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

DuPont de Nemours declared that its board has authorized a share buyback plan on Thursday, November 6th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the basic materials company to buy up to 12.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

DuPont de Nemours Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, November 28th. DuPont de Nemours’s dividend payout ratio is presently -43.48%.

Insider Activity

In related news, SVP Steven P. Larrabee sold 43,208 shares of DuPont de Nemours stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $77.17, for a total transaction of $3,334,361.36. Following the completion of the transaction, the senior vice president directly 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 accessible through the SEC website. In the last three months, insiders have sold 74,208 shares of company stock valued at $5,714,861. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DuPont de Nemours

Several hedge funds have recently made changes to their positions in DD. Princeton Global Asset Management LLC lifted its stake in DuPont de Nemours by 64.4% in the second quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 143 shares during the period. Salomon & Ludwin LLC raised 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 valued at $25,000 after purchasing an additional 207 shares in the last quarter. Financial Life Planners purchased a new stake in shares of DuPont de Nemours in the 3rd quarter worth approximately $27,000. WPG Advisers LLC bought a new position in shares of DuPont de Nemours during the first quarter valued at approximately $35,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in DuPont de Nemours by 67.5% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 541 shares of the basic materials company’s stock valued at $37,000 after buying an additional 218 shares during the period. 73.96% of the stock is currently owned by hedge funds and other 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.