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

DuPont de Nemours, Inc. (NYSE:DD) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 3,600,000 shares, a drop of 5.5% from the November 15th total of 3,810,000 shares. Based on an average trading volume of 1,920,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.9% of the company’s stock are short sold.

Institutional Investors Weigh In On DuPont de Nemours

A number of hedge funds and other institutional investors have recently made changes to their positions in DD. Denver PWM LLC acquired a new position in DuPont de Nemours in the 2nd quarter worth about $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of DuPont de Nemours in the second quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of DuPont de Nemours during the 3rd quarter worth approximately $38,000. FSA Wealth Management LLC purchased a new position in shares of DuPont de Nemours during the 3rd quarter valued at approximately $39,000. Finally, Quarry LP acquired a new stake in DuPont de Nemours in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

DuPont de Nemours Price Performance

Shares of NYSE:DD opened at $77.62 on Thursday. DuPont de Nemours has a twelve month low of $61.14 and a twelve month high of $90.06. The company has a current ratio of 2.28, a quick ratio of 1.49 and a debt-to-equity ratio of 0.29. The company has a market cap of $32.44 billion, a PE ratio of 40.85, a price-to-earnings-growth ratio of 1.97 and a beta of 1.34. The company’s 50 day moving average is $83.34 and its 200 day moving average is $82.06.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.15. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.20 billion. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, sell-side analysts forecast that DuPont de Nemours will post 3.89 EPS for the current year.

DuPont de Nemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.38 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 1.96%. DuPont de Nemours’s dividend payout ratio is presently 80.00%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DD shares. Morgan Stanley lifted their target price on DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Citigroup reduced their price objective on shares of DuPont de Nemours from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada increased their target price on shares of DuPont de Nemours from $102.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays upped their price target on DuPont de Nemours from $84.00 to $85.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their price objective on DuPont de Nemours from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.25.

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.