DuPont de Nemours (DD) extended gains for the seventh consecutive trading session today, closing 1.31% higher from its previous close at $41.49.
The Wilmington, DE-based chemical and materials company has added 3.58% over the course of the last six trading days.
A significant gain was logged on Friday, December 5, after DuPont said that its aramid fiber brand, Kevlar EXO, launched its use in hard armor applications, including helmets and ballistic plate inserts.
“The success of Kevlar® EXO™ in soft armor applications paved the way for its evolution into structural uses like hard armor,” said Gerrad Allison, marketing manager of defense at Kevlar® EXO.
DD closed the trading day 1.73% higher at $40.51.
DuPont de Nemours’ third-quarter results showed weaker year-over-year earnings and cash flow. Net income fell to $308 million, or $0.70 a share, from $453 million, or $1.06 a share, a year earlier.
Additionally, the chemical maker cut its quarterly dividend by more than half to $0.20 per share.
Nevertheless, the company raised its full-year earnings guidance. Also, it announced plans to return capital to shareholders, including a $2B share repurchase authorization and an imminent $500M accelerated buyback.
The stock is down ~45% year-to-date.
Seeking Alpha’s Quant rating system sees the stock as Strong Sell, considering factors such as growth, momentum, and earnings revisions.
However, SA authors grade the stock as Hold.
“I give DuPont a HOLD with a PT of $70 per share from a fair value of $83 per share for the longer term, legitimizing some of the company’s premium that we see here,” said Seeking Alpha analyst Wolf Report.
“I would be careful going higher,” added the analyst.
Meanwhile, the Wall Street community grades the stock as Strong Buy.