DuPont de Nemours (NYSE:DD) Shares Gap Up Following Better-Than-Expected Earnings

DuPont de Nemours, Inc. (NYSE:DD)’s share price gapped up prior to trading 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 for the quarter, topping the consensus estimate of $0.98 by $0.15. DuPont de Nemours had a return on equity of 6.64% and a net margin of 6.35%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DD shares. Morgan Stanley lifted their price target on shares of DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of DuPont de Nemours from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Citigroup cut their price target on DuPont de Nemours from $92.00 to $88.00 in a research note on Monday. Wolfe Research upgraded DuPont de Nemours from a “peer perform” rating to an “outperform” rating and set a $91.00 price objective for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada cut their target price on DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, DuPont de Nemours has a consensus rating of “Moderate Buy” and an average price target of $97.42.

Hedge Funds Weigh In On DuPont de Nemours

Institutional investors and hedge funds have recently modified their holdings of the company. Fortitude Family Office LLC increased its position in DuPont de Nemours by 32.0% in the third quarter. Fortitude Family Office LLC now owns 544 shares of the basic materials company’s stock worth $48,000 after buying an additional 132 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in DuPont de Nemours by 3.2% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,231 shares of the basic materials company’s stock worth $323,000 after acquiring an additional 132 shares in the last quarter. Global Trust Asset Management LLC raised its stake in DuPont de Nemours by 1.5% during the 4th quarter. Global Trust Asset Management LLC now owns 9,227 shares of the basic materials company’s stock worth $704,000 after acquiring an additional 133 shares during the period. Avior Wealth Management LLC lifted 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 valued at $57,000 after purchasing an additional 137 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its position in shares of DuPont de Nemours by 3.7% in the third quarter. Focus Financial Network Inc. now owns 3,973 shares of the basic materials company’s stock worth $354,000 after purchasing an additional 143 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Trading Up 6.8 %

The stock has a market capitalization of $34.04 billion, a PE ratio of 42.86, a PEG ratio of 1.70 and a beta of 1.34. The stock’s 50 day moving average price is $77.54 and its 200-day moving average price is $81.08. The company has a quick ratio of 1.49, a current ratio of 2.28 and a debt-to-equity ratio of 0.29.

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.