DuPont de Nemours (NYSE:DD) Price Target Cut to $48.00 by Analysts at Royal Bank Of Canada

DuPont de Nemours (NYSE:DD) had its price objective decreased by Royal Bank Of Canada from $100.00 to $48.00 in a research note released on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the basic materials company’s stock.

Several other equities research analysts also recently commented on the company. Citigroup boosted their price objective on DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a report on Friday, November 7th. Wells Fargo & Company decreased their price target on shares of DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. UBS Group upped their price objective on shares of DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Zacks Research cut shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, BMO Capital Markets decreased their target price on shares of DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, DuPont de Nemours presently has an average rating of “Moderate Buy” and a consensus price target of $53.92.

DuPont de Nemours Price Performance

Shares of NYSE DD opened at $38.74 on Tuesday. The firm has a market capitalization of $16.23 billion, a P/E ratio of -82.43, a P/E/G ratio of 2.49 and a beta of 1.11. The firm’s 50-day moving average price is $69.14 and its 200-day moving average price is $70.71. 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 has a 1-year low of $22.50 and a 1-year high of $41.23.

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. 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 during the quarter. Equities research analysts anticipate that DuPont de Nemours will post 4.38 earnings per share for the current fiscal year.

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

DuPont de Nemours Cuts Dividend

The business 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. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.80 annualized dividend and a yield of 2.1%. DuPont de Nemours’s payout ratio is currently -43.48%.

Insider Buying and Selling at DuPont de Nemours

In other news, SVP Steven P. Larrabee sold 43,208 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president owned 38,585 shares in the company, valued at $2,977,604.45. This trade represents a 52.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 74,208 shares of company stock worth $5,714,861. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DuPont de Nemours

Several institutional investors and hedge funds have recently bought and sold shares of DD. Obermeyer Wealth Partners grew its position in DuPont de Nemours by 73.6% during the second quarter. Obermeyer Wealth Partners now owns 25,159 shares of the basic materials company’s stock valued at $1,726,000 after acquiring an additional 10,663 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in shares of DuPont de Nemours by 19.1% in the 2nd quarter. Prospera Financial Services Inc now owns 94,434 shares of the basic materials company’s stock worth $6,477,000 after acquiring an additional 15,144 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of DuPont de Nemours by 15.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 756,907 shares of the basic materials company’s stock valued at $56,526,000 after purchasing an additional 99,667 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of DuPont de Nemours by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 46,894,623 shares of the basic materials company’s stock valued at $3,502,090,000 after purchasing an additional 298,408 shares during the last quarter. Finally, Nuveen LLC purchased a new position in DuPont de Nemours in the 1st quarter worth $531,037,000. 73.96% of the stock is owned by institutional investors.

About DuPont de Nemours

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.