DuPont de Nemours, Inc. (NYSE:DD) Sees Significant Decrease in Short Interest

DuPont de Nemours, Inc. (NYSE:DDGet Rating) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 5,390,000 shares, a decline of 20.7% from the March 15th total of 6,800,000 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 3,110,000 shares, the short-interest ratio is presently 1.7 days.

Shares of NYSE DD opened at $68.60 on Tuesday. The firm has a market cap of $34.89 billion, a PE ratio of 6.27, a PEG ratio of 2.20 and a beta of 1.42. The firm has a fifty day moving average of $74.85 and a 200 day moving average of $76.37. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 1.89. DuPont de Nemours has a one year low of $66.37 and a one year high of $86.28.

DuPont de Nemours (NYSE:DDGet Rating) last released its earnings results on Tuesday, February 8th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.07. DuPont de Nemours had a net margin of 38.83% and a return on equity of 8.29%. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The company’s revenue for the quarter was down 17.8% compared to the same quarter last year. On average, equities analysts predict that DuPont de Nemours will post 3.37 EPS for the current fiscal year.

DuPont de Nemours announced that its board has initiated a share buyback program on Tuesday, February 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th were issued a dividend of $0.33 per share. This is a positive change from DuPont de Nemours’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.92%. DuPont de Nemours’s dividend payout ratio is presently 12.07%.

Several institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in shares of DuPont de Nemours by 31.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 19,215,876 shares of the basic materials company’s stock valued at $1,552,260,000 after acquiring an additional 4,586,593 shares during the last quarter. Boston Partners boosted its position in shares of DuPont de Nemours by 6.9% during the 3rd quarter. Boston Partners now owns 12,602,808 shares of the basic materials company’s stock valued at $857,165,000 after acquiring an additional 811,924 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of DuPont de Nemours by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 8,967,301 shares of the basic materials company’s stock valued at $722,327,000 after acquiring an additional 179,445 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of DuPont de Nemours by 0.4% during the 3rd quarter. Macquarie Group Ltd. now owns 8,769,813 shares of the basic materials company’s stock valued at $596,271,000 after acquiring an additional 36,164 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of DuPont de Nemours by 10.1% during the 4th quarter. Nuveen Asset Management LLC now owns 8,574,015 shares of the basic materials company’s stock valued at $692,609,000 after acquiring an additional 784,566 shares during the last quarter. 69.32% of the stock is owned by institutional investors and hedge funds.

DD has been the subject of several research reports. KeyCorp decreased their price objective on shares of DuPont de Nemours from $99.00 to $96.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. UBS Group lifted their price objective on shares of DuPont de Nemours from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, December 20th. Credit Suisse Group lifted their price objective on shares of DuPont de Nemours from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 9th. Citigroup decreased their target price on shares of DuPont de Nemours from $98.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, February 9th. Finally, Wells Fargo & Company decreased their target price on shares of DuPont de Nemours from $99.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, April 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, DuPont de Nemours currently has a consensus rating of “Buy” and a consensus price target of $92.59.

DuPont de Nemours Company Profile (Get Rating)

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 three segments: Electronics & Industrial, Mobility & Materials, and Water & Protection. The Electronics & Industrial segment supplies materials and printing systems to the advanced printing industry; and materials and solutions for the fabrication of semiconductors and integrated circuits addressing front-end and back-end of the manufacturing process.

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