Wells Fargo & Company Issues Pessimistic Forecast for DuPont de Nemours (NYSE:DD) Stock Price

DuPont de Nemours (NYSE:DD) had its price objective lowered by Wells Fargo & Company from $105.00 to $81.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

Several other research firms have also recently issued reports on DD. StockNews.com cut DuPont de Nemours from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Barclays raised shares of DuPont de Nemours from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $85.00 to $89.00 in a research note on Thursday, February 13th. Citigroup cut their price objective on shares of DuPont de Nemours from $95.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank of Canada lowered their target price on shares of DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. cut their price target on DuPont de Nemours from $101.00 to $76.00 and set an “overweight” rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, DuPont de Nemours currently has an average rating of “Moderate Buy” and an average target price of $93.33.

DuPont de Nemours Price Performance

DuPont de Nemours stock traded down $5.87 on Wednesday, reaching $56.09. The company’s stock had a trading volume of 2,443,276 shares, compared to its average volume of 2,881,025. DuPont de Nemours has a twelve month low of $53.77 and a twelve month high of $90.06. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.33. The business’s fifty day moving average price is $75.88 and its 200 day moving average price is $79.51.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings data on Tuesday, February 11th. The basic materials company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.15. DuPont de Nemours had a net margin of 5.47% and a return on equity of 7.12%. Equities analysts expect that DuPont de Nemours will post 4.38 earnings per share for the current fiscal year.

DuPont de Nemours Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.41 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.92%. This is an increase from DuPont de Nemours’s previous quarterly dividend of $0.38. DuPont de Nemours’s dividend payout ratio (DPR) is 98.20%.

Hedge Funds Weigh In On DuPont de Nemours

A number of large investors have recently modified their holdings of DD. Level Four Advisory Services LLC increased its holdings in DuPont de Nemours by 2.8% during the fourth quarter. Level Four Advisory Services LLC now owns 4,679 shares of the basic materials company’s stock worth $357,000 after buying an additional 129 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in shares of DuPont de Nemours by 3.2% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,231 shares of the basic materials company’s stock worth $323,000 after purchasing an additional 132 shares during the last quarter. Global Trust Asset Management LLC raised its holdings in shares of DuPont de Nemours by 1.5% in the 4th quarter. Global Trust Asset Management LLC now owns 9,227 shares of the basic materials company’s stock valued at $704,000 after purchasing an additional 133 shares during the period. Avior Wealth Management LLC grew its holdings in DuPont de Nemours by 22.7% during the fourth quarter. Avior Wealth Management LLC now owns 741 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 137 shares during the period. Finally, Hancock Whitney Corp increased its position in DuPont de Nemours by 2.6% during the fourth quarter. Hancock Whitney Corp now owns 5,625 shares of the basic materials company’s stock worth $429,000 after buying an additional 143 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

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.