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

DuPont de Nemours, Inc. (NYSE:DD) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $76.26, but opened at $79.76. DuPont de Nemours shares last traded at $79.97, with a volume of 622,621 shares traded.

The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.15. DuPont de Nemours had a return on equity of 6.64% and a net margin of 6.35%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DD shares. Wells Fargo & Company dropped their target price on DuPont de Nemours from $107.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday. BMO Capital Markets lowered their price objective on DuPont de Nemours from $107.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, January 16th. Wolfe Research raised DuPont de Nemours from a “peer perform” rating to an “outperform” rating and set a $91.00 price objective for the company in a report on Friday, January 17th. Royal Bank of Canada lowered their price objective on DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a report on Monday. Finally, Morgan Stanley boosted their price objective on DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.25.

Hedge Funds Weigh In On DuPont de Nemours

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in DuPont de Nemours by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 46,596,215 shares of the basic materials company’s stock worth $3,552,961,000 after purchasing an additional 353,010 shares in the last quarter. State Street Corp raised its holdings in DuPont de Nemours by 2.4% during the third quarter. State Street Corp now owns 16,983,109 shares of the basic materials company’s stock worth $1,513,365,000 after purchasing an additional 399,728 shares in the last quarter. Geode Capital Management LLC raised its holdings in DuPont de Nemours by 1.0% during the third quarter. Geode Capital Management LLC now owns 9,952,115 shares of the basic materials company’s stock worth $883,821,000 after purchasing an additional 100,198 shares in the last quarter. Franklin Resources Inc. raised its holdings in DuPont de Nemours by 7.5% during the fourth quarter. Franklin Resources Inc. now owns 6,894,207 shares of the basic materials company’s stock worth $525,683,000 after purchasing an additional 483,722 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in DuPont de Nemours by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,868,586 shares of the basic materials company’s stock worth $218,730,000 after purchasing an additional 91,108 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

DuPont de Nemours Price Performance

The company has a market cap of $34.18 billion, a P/E ratio of 43.04, a PEG ratio of 1.70 and a beta of 1.34. The company has a fifty day simple moving average of $77.53 and a 200-day simple moving average of $81.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.28 and a quick ratio of 1.49.

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.