KeyCorp Cuts DuPont de Nemours (NYSE:DD) Price Target to $44.00

DuPont de Nemours (NYSE:DD) had its target price reduced by KeyCorp from $93.00 to $44.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

A number of other analysts have also weighed in on the company. Zacks Research lowered DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. UBS Group raised their price target on shares of DuPont de Nemours from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Royal Bank Of Canada raised their target price on shares of DuPont de Nemours from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Wells Fargo & Company lifted their target price on DuPont de Nemours from $81.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Finally, Wolfe Research lowered their target price on DuPont de Nemours from $89.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.75.

DuPont de Nemours Stock Performance

DuPont de Nemours stock opened at $39.74 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.41 and a quick ratio of 0.94. The firm has a market capitalization of $16.64 billion, a P/E ratio of -84.55, a price-to-earnings-growth ratio of 2.49 and a beta of 1.11. DuPont de Nemours has a 1-year low of $22.50 and a 1-year high of $40.11. The company’s 50-day moving average is $74.31 and its 200 day moving average is $71.87.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Monday, July 11th. The basic materials company reported $0.69 earnings per share (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 business had revenue of $3.02 billion during the quarter. Research analysts forecast that DuPont de Nemours will post 4.38 EPS for the current year.

DuPont de Nemours Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $0.20 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. DuPont de Nemours’s payout ratio is currently -348.94%.

DuPont de Nemours announced that its board has approved a stock buyback plan on Thursday, November 6th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the basic materials company to purchase up to 12.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at DuPont de Nemours

In other news, SVP Steven P. Larrabee sold 43,208 shares of DuPont de Nemours stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $77.17, for a total value of $3,334,361.36. Following the transaction, the senior vice president owned 38,585 shares of the company’s stock, valued at $2,977,604.45. The trade was a 52.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 74,208 shares of company stock valued at $5,714,861. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DuPont de Nemours

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of DuPont de Nemours during the first quarter worth $531,037,000. Norges Bank purchased a new position in DuPont de Nemours during the 2nd quarter worth $313,306,000. Vanguard Group Inc. increased its position in DuPont de Nemours by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 50,867,267 shares of the basic materials company’s stock valued at $3,962,560,000 after buying an additional 3,203,044 shares in the last quarter. Mondrian Investment Partners LTD purchased a new stake in DuPont de Nemours in the third quarter valued at about $138,503,000. Finally, Ilex Capital Partners UK LLP boosted its holdings in DuPont de Nemours by 175.8% in the second quarter. Ilex Capital Partners UK LLP now owns 2,043,299 shares of the basic materials company’s stock worth $140,150,000 after acquiring an additional 1,302,341 shares in the last quarter. Hedge funds and other 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.