DuPont de Nemours (NYSE:DD) Shares Gap Up After Earnings Beat

DuPont de Nemours, Inc. (NYSE:DD) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $141.30, but opened at $149.95. DuPont de Nemours shares last traded at $147.1350, with a volume of 288,391 shares trading hands.

The basic materials company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.87 by $0.22. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.84 billion. DuPont de Nemours had a net margin of 0.67% and a return on equity of 6.92%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS.

DuPont de Nemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.40 annualized dividend and a dividend yield of 1.6%. DuPont de Nemours’s dividend payout ratio (DPR) is currently 533.33%.

Analyst Ratings Changes

DD has been the subject of a number of research reports. Royal Bank Of Canada decreased their price objective on DuPont de Nemours from $176.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. The Goldman Sachs Group cut their target price on DuPont de Nemours from $159.00 to $153.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Citigroup reduced their price target on DuPont de Nemours from $170.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DuPont de Nemours in a research report on Friday. Finally, UBS Group decreased their price target on shares of DuPont de Nemours from $178.00 to $172.00 and set a “buy” rating for the company in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Hedge Funds Weigh In On DuPont de Nemours

Several hedge funds have recently modified their holdings of DD. State Street Corp boosted its position in DuPont de Nemours by 140.3% during the second quarter. State Street Corp now owns 44,941,824 shares of the basic materials company’s stock valued at $6,095,909,000 after purchasing an additional 26,238,300 shares during the last quarter. KBC Group NV grew its stake in DuPont de Nemours by 435.8% in the first quarter. KBC Group NV now owns 1,687,376 shares of the basic materials company’s stock valued at $77,281,000 after purchasing an additional 1,372,435 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in shares of DuPont de Nemours by 7,762.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 949,117 shares of the basic materials company’s stock worth $123,281,000 after purchasing an additional 937,045 shares during the last quarter. Bank of America Corp DE increased its position in shares of DuPont de Nemours by 22.0% during the 1st quarter. Bank of America Corp DE now owns 4,629,671 shares of the basic materials company’s stock worth $212,039,000 after purchasing an additional 835,572 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of DuPont de Nemours during the 1st quarter worth approximately $34,727,000. Institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Trading Up 4.3%

The company has a market cap of $19.91 billion, a P/E ratio of 327.62, a PEG ratio of 1.28 and a beta of 1.05. The company has a current ratio of 2.43, a quick ratio of 1.82 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $132.31 and a 200-day moving average price of $138.39.

About DuPont de Nemours

DuPont de Nemours, Inc is a diversified science and technology company that develops engineered materials and specialty products for industrial and consumer markets. Its offerings are used in applications including electronics, semiconductor manufacturing, water purification, transportation, construction, healthcare, and worker and consumer protection.

The company’s product portfolio has historically included high-performance films, resins, adhesives, engineered polymers, specialty fibers, protective materials, water-treatment membranes, and filtration technologies.