DuPont de Nemours, Inc. (NYSE: DD)
DuPont de Nemours, Inc., commonly shortened to DuPont, is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. DuPont de Nemours, Inc. provides technology-based materials and solutions. The Company offers a diverse range of products, such as construction materials, adhesives, electronics, fabrics, fibres, home gardens, medical devices, resins, printing, and consumer products. Having recently won 3 Edison awards, the company has seen an increase in mentions by 127% over the last day, prompting investors to wonder what else makes the company gain such hype. Currently, shares of DuPont trade at $69.57.
Positive Hype
There are lots of reasons why DuPont have gained so much positive hype recently, here are some of them.
DuPont announced that three of its innovative material technologies were recognized with the prestigious 2023 Edison Awards™. Selected from hundreds of nominees, DuPont received two Silver awards and one Bronze.
Following the Company's 2023 Annual Meeting of Stockholders, the Board of Directors declared a quarterly dividend of 70 cents per share, payable June 9, 2023, to shareholders of record on May 31, 2023. This marks the 447th consecutive dividend paid by the Company or its affiliates since 1912.
DuPont also announced that its Board of Directors has declared a second-quarter dividend of thirty-six cents ($0.36) per share on the outstanding Common Stock of the Company (par value $0.01 per share) payable on June 15, 2023, to holders of record of said stock at the close of business on May 31, 2023.
The company reported its Q4 results, with EPS of $0.89 coming in better than the consensus estimate of $0.78. Revenue was $3.1 billion, compared to the consensus estimate of $3.11B.
The company will release its first quarter 2023 financial results at 6:00 a.m. ET on Tuesday, May 2, 2023. In addition, the company will host a conference call at 8:00 a.m. ET that day.
It also unveiled Kevlar®EXO™aramid fiber, the most significant aramid fibre innovation in over 50 years and an entirely new technology platform developed to serve endless applications where performance and protection are required in the midst of intense and demanding conditions. As a major development, the potential success of this innovation has driven up positive hype.
Negative Hype
Despite its recent successes, there are still factors that might pose a risk to your position in DuPont now. Here are two of them.
Lori Koch, CFO, said DuPont expects sales to drop in H₁ at its consumer electronics and chipmaker division, and its Water & Protection business will suffer due to weaker construction.
Q1/23 EPS/revenue is expected to be $0.80/$2.9B, worse than the consensus estimates of $0.88/$3.09B.
Conclusion
Overall, DuPont has had a great year financially and with the success of its new projects. The company has been reaping the profits of its endeavours and announced to share those with its shareholders too. However, there is still the chance that lower sales and revenue in the near future might offset their current positive trajectory. Nonetheless, the company has solid foundations and in the near term might be a good company to take a position in.
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