DuPont de Nemours, Inc. (NYSE:DD) Short Interest Down 14.8% in October

DuPont de Nemours, Inc. (NYSE:DD) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 3,670,000 shares, a decrease of 14.8% from the September 30th total of 4,310,000 shares. Based on an average trading volume of 1,940,000 shares, the short-interest ratio is presently 1.9 days. Currently, 0.9% of the shares of the stock are sold short.

DuPont de Nemours Trading Down 0.5 %

NYSE:DD traded down $0.38 on Tuesday, reaching $83.53. 69,499 shares of the company’s stock were exchanged, compared to its average volume of 2,487,408. The firm has a market capitalization of $34.92 billion, a price-to-earnings ratio of 102.33, a price-to-earnings-growth ratio of 2.26 and a beta of 1.34. DuPont de Nemours has a 52-week low of $61.14 and a 52-week high of $90.06. The company has a quick ratio of 1.44, a current ratio of 2.21 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $83.93 and a 200-day moving average of $80.68.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.12. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.05 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. DuPont de Nemours’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. As a group, analysts expect that DuPont de Nemours will post 3.76 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, November 29th. DuPont de Nemours’s dividend payout ratio (DPR) is presently 185.37%.

Analysts Set New Price Targets

DD has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price target on shares of DuPont de Nemours from $87.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Morgan Stanley boosted their target price on shares of DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Citigroup decreased their price target on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Barclays lowered DuPont de Nemours from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $88.00 to $84.00 in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.83.

Hedge Funds Weigh In On DuPont de Nemours

Several hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in shares of DuPont de Nemours by 0.7% during the second quarter. Legal & General Group Plc now owns 3,863,144 shares of the basic materials company’s stock worth $310,945,000 after purchasing an additional 25,857 shares during the last quarter. Mondrian Investment Partners LTD increased its stake in DuPont de Nemours by 9.5% in the first quarter. Mondrian Investment Partners LTD now owns 1,799,860 shares of the basic materials company’s stock valued at $137,995,000 after purchasing an additional 156,339 shares during the period. Canada Pension Plan Investment Board increased its stake in DuPont de Nemours by 34.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company’s stock valued at $118,229,000 after purchasing an additional 391,400 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of DuPont de Nemours by 403.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock valued at $109,001,000 after buying an additional 1,139,156 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in shares of DuPont de Nemours by 95.0% during the second quarter. Ceredex Value Advisors LLC now owns 1,165,164 shares of the basic materials company’s stock worth $93,784,000 after buying an additional 567,732 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

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.