Morgan Stanley Raises DuPont de Nemours (NYSE:DD) Price Target to $94.00

DuPont de Nemours (NYSE:DD) had its target price upped by Morgan Stanley from $88.00 to $94.00 in a report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

A number of other analysts have also recently commented on DD. Deutsche Bank Aktiengesellschaft lifted their price objective on DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on DuPont de Nemours from $87.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays downgraded DuPont de Nemours from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $88.00 to $84.00 in a research report on Monday, October 7th. Finally, Citigroup cut their price objective on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, DuPont de Nemours currently has an average rating of “Moderate Buy” and an average price target of $94.83.

DuPont de Nemours Price Performance

DD stock opened at $84.39 on Monday. The firm has a 50 day moving average of $83.60 and a 200-day moving average of $80.47. The company has a current ratio of 2.21, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The company has a market cap of $35.28 billion, a price-to-earnings ratio of 102.91, a PEG ratio of 2.26 and a beta of 1.34. DuPont de Nemours has a 12-month low of $61.14 and a 12-month high of $90.06.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.12. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.05 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. As a group, equities analysts expect that DuPont de Nemours will post 3.76 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 29th. DuPont de Nemours’s payout ratio is 185.37%.

Hedge Funds Weigh In On DuPont de Nemours

Several institutional investors have recently modified their holdings of the company. Global Assets Advisory LLC acquired a new position in shares of DuPont de Nemours during the first quarter valued at approximately $1,130,000. Kwmg LLC raised its holdings in shares of DuPont de Nemours by 2.6% in the 1st quarter. Kwmg LLC now owns 67,405 shares of the basic materials company’s stock worth $5,168,000 after purchasing an additional 1,686 shares in the last quarter. Mcdonald Partners LLC lifted its stake in DuPont de Nemours by 6.7% during the first quarter. Mcdonald Partners LLC now owns 15,823 shares of the basic materials company’s stock valued at $1,213,000 after purchasing an additional 987 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in DuPont de Nemours by 6.5% during the first quarter. Sunbelt Securities Inc. now owns 10,749 shares of the basic materials company’s stock worth $824,000 after buying an additional 656 shares in the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of DuPont de Nemours by 5.5% in the first quarter. Brookstone Capital Management now owns 77,834 shares of the basic materials company’s stock valued at $5,968,000 after buying an additional 4,089 shares in the last quarter. Institutional investors own 73.96% of the company’s stock.

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.