DuPont de Nemours, Inc. (NYSE:DD) Sees Large Decrease in Short Interest

DuPont de Nemours, Inc. (NYSE:DD) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,600,000 shares, a drop of 5.5% from the November 15th total of 3,810,000 shares. Based on an average daily trading volume, of 1,920,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.9% of the company’s stock are short sold.

Institutional Trading of DuPont de Nemours

Hedge funds have recently made changes to their positions in the business. Zurich Insurance Group Ltd FI acquired a new stake in DuPont de Nemours during the 2nd quarter worth approximately $83,540,000. Renaissance Technologies LLC acquired a new stake in DuPont de Nemours during the 2nd quarter worth approximately $67,665,000. Franklin Resources Inc. lifted its holdings in DuPont de Nemours by 9.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,410,485 shares of the basic materials company’s stock worth $556,751,000 after purchasing an additional 570,703 shares during the last quarter. Ceredex Value Advisors LLC lifted its holdings in DuPont de Nemours by 95.0% during the 2nd quarter. Ceredex Value Advisors LLC now owns 1,165,164 shares of the basic materials company’s stock worth $93,784,000 after purchasing an additional 567,732 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in DuPont de Nemours during the 3rd quarter worth approximately $42,810,000. 73.96% of the stock is owned by institutional investors and hedge funds.

DuPont de Nemours Price Performance

NYSE:DD opened at $80.13 on Wednesday. DuPont de Nemours has a 12-month low of $61.14 and a 12-month high of $90.06. The firm has a market capitalization of $33.49 billion, a price-to-earnings ratio of 42.17, a P/E/G ratio of 1.97 and a beta of 1.34. The stock’s 50 day moving average price is $83.50 and its two-hundred day moving average price is $82.10. The company has a quick ratio of 1.49, a current ratio of 2.28 and a debt-to-equity ratio of 0.29.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.15. DuPont de Nemours had a return on equity of 6.64% and a net margin of 6.35%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. On average, analysts anticipate that DuPont de Nemours will post 3.89 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. DuPont de Nemours’s payout ratio is 80.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on DD shares. StockNews.com downgraded shares of DuPont de Nemours from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Royal Bank of Canada lifted their price objective on shares of DuPont de Nemours from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price objective on shares of DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Wells Fargo & Company lifted their price objective on shares of DuPont de Nemours from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Barclays lifted their price objective on shares of DuPont de Nemours from $84.00 to $85.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.42.

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.