SSgA Funds Management, Inc. recently announced the acquisition of new stake in DuPont de Nemours Inc. (NYSE:DD). The institutional investor has increased its shareholding in the Basic Materials company by 0.55% to 37.19 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 5.07% valued currently at $1.99 billion. In addition, T. Rowe Price Associates, Inc. (I.. raised its holdings by 3.73 million to 24.29 million shares. And 40 North Management LLC has lifted its position by 2.20% or 0.44 million shares – to 20.27 million shares.
With over 4.52 million DuPont de Nemours Inc. (DD) shares trading Tuesday and a closing price of $57.26 on the day, the dollar volume was approximately $258.92 million. The shares have shown a positive weekly performance of 1.89% and its price on 09/01/20 gained nearly 2.69%. Currently, there are 734.30M common shares owned by the public and among those 733.07M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 24 analysts who have offered their price forecasts for DD have a consensus price objective of $64.90. The analysts have set the share’s price value over the next 12 months at a high of $77.00 and a low of $55.00 should the stock experience a downside. Incidentally, analysts’ outlook for the DuPont de Nemours Inc. stock is 1.90 for the next 12 months. The average price target is 10.6% above its last price level and an upside to the estimated low will see the stock lose -4.11% over that period. But an upside of 25.64% will see the stock hit the forecast high price target while mean target price for the stock is $65.00.
Insiders at the company have transacted a total of 44 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 184,897 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 43,146 shares.
The top 3 mutual fund holders in DuPont de Nemours Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and SPDR S&P 500 ETF. Vanguard Total Stock Market Index owns 20.87 million shares of the company’s stock, all valued at over $1.12 billion. The company sold 38594.0 shares recently to bring their total holdings to about 2.85% of the shares outstanding. Vanguard 500 Index Fund sold 88920.0 shares to see its total holdings shrink to 15.13 million shares valued at over $809.33 million and representing 2.06% of the shares outstanding. SPDR S&P 500 ETF bought 15912.0 shares to bring its total holdings to over 7.9 million shares at a value of $422.65 million. SPDR S&P 500 ETF now owns shares totaling to 1.08% of the shares outstanding.
Shares of DuPont de Nemours Inc. (NYSE: DD) opened at $55.41, down -$0.35 from a prior closing price of $55.76. However, the script later closed the day at $57.26, up 2.69%. The company’s stock has a 5-day price change of 1.89% and 4.91% over the past three months. DD shares are trading -10.81% year to date (YTD), with the 12-month market performance down to -15.11% lower. It has a 12-month low price of $28.33 and touched a high of $73.77 over the same period. Currently, 4.52 million shares have been traded, compared to an average intraday trading volume of 4.73 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.39%, 4.76%, and 10.25% respectively.
Institutional ownership of DuPont de Nemours Inc. (NYSE: DD) shares accounts for 78.80% of the company’s 734.30M shares outstanding. Mutual fund holders own 39.03%, while other institutional holders and individual stakeholders account for 39.28% and 0.20% respectively.
It has a market capitalization of $41.58B. The earnings-per-share (ttm) stands at -$3.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.61% over the week and 2.58% over the month.
Analysts forecast that DuPont de Nemours Inc. (DD) will achieve an EPS of $0.73 for the current quarter, $0.75 for the next quarter and $3.51 for 2021. The lowest estimate earnings-per-share for the quarter is $0.7 while analysts give the company a high EPS estimate of $0.78. Comparatively, EPS for the current quarter was $0.96 a year ago. Earnings per share for the fiscal year are expected to decrease by -353.20%, and 16.15% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate DuPont de Nemours Inc. (DD) as a “Strong Buy” at a consensus score of 1.90. Specifically, 19 Wall Street analysts polled rate the stock as a buy, while 4 of the 24 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DD, a number of firms have released research notes about the stock. Stephens stated their Equal-Weight rating for the stock in a research note on August 03, 2020, with the firm’s price target at $55. RBC Capital Mkts coverage for the DuPont de Nemours Inc. (DD) stock in a research note released on June 25, 2020 offered a Outperform rating with a price target of $66. Wells Fargo was of a view on June 19, 2020 that the stock is Overweight, while Wells Fargo gave the stock Overweight rating on April 29, 2020, issuing a price target of $54. JP Morgan on their part issued Overweight rating on April 20, 2020.