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Wilmington, Delaware-based DuPont de Nemours, Inc. provides technology-based materials and solutions. With a market cap of $34.3 billion, the company offers a diverse range of products, such as construction materials, adhesives, electronic, fabrics, fibers, home garden, medical devices, resins, printing, and consumer products. DuPont de Nemours serves energy, automotive, construction, government, military, safety, and packaging industries globally.
Companies worth $10 billion or more are generally described as “large-cap stocks,” and DD perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the specialty chemicals industry. DuPont drives growth through strategic acquisitions, such as Donatelle Plastics, and operational realignments, enhancing capabilities and market reach. As a pioneer in materials science, DuPont's legacy of innovation and quality positions it favorably against competitors. Its continued R&D investments ensure the company remains at the forefront of specialty chemicals and advanced materials.
Despite its notable strength, DD slipped 2.7% from its 52-week high of $85.12, achieved on Jul. 31. Over the past three months, DD stock has gained 3%, underperforming the Materials Select Sector SPDR Fund’s 4.6% gains during the same time frame.
In the longer term, shares of DD rose 7.7% on a YTD basis and climbed 11.1% over the past 52 weeks, underperforming XLB’s YTD gains of 9.6% and solid 14.7% returns over the last year.
However, DD has been trading above its 200-day moving average since early May. Also, it is trading above its 50-day moving average recently, indicating an uptrend.
On Jul. 31, DD shares closed up more than 4% after reporting its Q2 results. Its adjusted EPS of $0.97 exceeded Wall Street expectations of $0.85. The company’s revenue was $3.2 billion, beating Wall Street forecasts of $3 billion. DD expects full-year adjusted EPS to be $3.70 to $3.80 and expects revenue in the range of $12.4 billion to $12.5 billion.
DD’s rival, PPG Industries, Inc. , has had a rough ride. PPG's shares plummeted 14.8% in 2024 alone and 4.7% over the past 52 weeks, lower than DD’s returns in the same time periods.
Wall Street analysts are moderately bullish on DD’s prospects. The stock has a consensus “Moderate Buy” rating from the 15 analysts covering it, and the mean price target of $95.83 suggests a potential upside of 15.7% from current price levels.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
Based in Pittsburgh, Pennsylvania, PPG Industries, Inc. specializes in manufacturing and distributing paints, coatings, and specialty materials. With a market cap of $28.89 billion, the company serves a broad range of industries, including automotive, aerospace, construction, and industrial markets.
Companies worth more than $10 billion are typically classified as “large-cap” stocks and PPG Industries fits well into this category. With a focus on continuous improvement and industry-leading solutions, PPG is well-positioned to adapt to evolving market demands while maintaining its leadership in the global coatings industry.
Shares of PPG are trading 15.7% below their 52-week high of $151.16, which they hit on Dec. 14, 2023. The stock has declined marginally over the past three months, lagging the iShares U.S. Basic Materials ETF’s 2.7% gain over the same time frame.
In the long term, PPG stock is down 14.8% on a YTD basis, underperforming IYM’s 4.8% gains. Moreover, shares of PPG have declined 4.7% over the past 52 weeks, lagging IYM’s 10.4% returns over the same time frame.
To confirm its bearish trend, PPG has been trading below its 200-day moving average since early April. However, it has been trading above the 50-day moving average since early September.
Shares of PPG plunged 1.5% on Jul. 18, the day its Q2 results were reported. Adjusted EPS of $2.50 per share beat the Wall Street expectations of $2.48. However, revenue of $4.79 billion missed the consensus estimate of $4.91 billion. PPG Industries expects its EPS for the current year to range between $8.15 and $8.30.
Furthermore, PPG has underperformed its rival Sherwin-Williams Company’s 21.2% gain on a YTD basis.
Even though PPG has underperformed the broader market, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of “Moderate Buy” from the 22 analysts in coverage, and the mean price target of $152.16 suggests a 19.4% premium to its current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
DuPont de Nemours, Inc. DD is expected to gain from its innovation-driven investment, productivity actions and the acquisitions of the Spectrum Plastics Group and Donatelle Plastics amid headwinds from weaker demand in specific businesses.
DD’s shares are up 5.7% over a year against a 9.6% decline of its industry.
Let’s find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment.
Productivity, Innovation & Acquisition Aid DD Stock
DuPont remains focused on driving growth through innovation and new product development. Its innovation-driven investment is focused on several high-growth areas. DD remains committed to driving returns from its R&D investment.
The company, in August 2023, completed the buyout of leading manufacturer of specialty medical devices and components, Spectrum Plastics Group from AEA Investors for $1.75 billion. The acquisition strengthens DuPont’s existing position in stable and fast-growing healthcare end markets. It is also in sync with its focus on high-growth, customer-driven innovation for the healthcare market.
The buyout of Donatelle Plastics also enhances DD’s exposure in healthcare, expanding its expertise in the medical device market segments. The acquisition introduces complementary advanced technologies and capabilities, such as medical device injection molding, liquid silicone rubber processing, precision machining, device assembly and tool building.
DuPont is also benefiting from cost synergy savings and productivity improvement actions. The benefits of its structural cost actions are expected to be realized in 2024. DD also continues to implement strategic price increases in the wake of cost inflation. These actions are likely to support its results. DuPont is also executing additional restructuring actions and expects annualized cost savings of $150 million from these measures with nearly $115 million anticipated in 2024.
DuPont, in May 2024, announced a strategic plan to separate into three distinct, publicly traded companies to unlock value for shareholders and enhance operational focus. The proposed separations of the Electronics and Water businesses will be executed in a tax-free manner for DuPont shareholders, resulting in New DuPont, Electronics and Water as independent entities. Each company will benefit from increased agility and focus within their respective industries while maintaining strong balance sheets and attractive financial profiles. All three resulting companies are anticipated to have strong balance sheets and sufficient capitalization to pursue future growth opportunities.
Weakness in Water & Industrial Businesses Ails DuPont
DD’s water business faces challenges from the slowdown in China. Its water solutions business is seeing sales moderation due to softer demand in China resulting from the downturn in the industrial economy and distributor inventory de-stocking. The de-stocking within industrial-based and water end markets and weaker water demand in China are likely to continue in the third quarter. DuPont sees sales in the Water & Protection unit to decline by low-single digits year-over-year in the third quarter.
The Industrial Solutions business is also exposed to headwinds from de-stocking within biopharma applications. Organic sales in this business declined by low-double digits year-over-year in the second quarter due to lower volumes. While DuPont is seeing a recovery lately, additional channel inventory de-stocking within its industrial-based businesses is likely to continue in the third quarter.
DuPont de Nemours, Inc. Price and Consensus
DuPont de Nemours, Inc. price-consensus-chart | DuPont de Nemours, Inc. Quote
Stocks to Consider
Better-ranked stocks in the Basic Materials space are, Hawkins, Inc. HWKN, IAMGOLD Corporation IAG and Eldorado Gold Corporation EGO, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Hawkins’ current fiscal-year earnings is pegged at $4.14, indicating a rise of 15.3% from year-ago levels. The Zacks Consensus Estimate for HWKN’s current fiscal-year earnings has increased 12.8% in the past 60 days. The stock has rallied around 103% in the past year.
The consensus estimate for IAMGOLD’s current-year earnings has increased by 46.4% in the past 60 days. IAG beat the consensus estimate in each of the last four quarters with the average surprise being 200%. Its shares have shot up 111% in the past year.
The Zacks Consensus Estimate for Eldorado Gold’s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have rallied roughly 69% in the past year.
Zacks Investment Research
PPG Industries Inc. PPG recently launched PPG Steelguard 951 epoxy intumescent fire protection coating in the Americas. This solution is intended for advanced manufacturing facilities, such as semiconductor plants, electric vehicle battery facilities, data centers and other commercial infrastructure.
Following a successful debut in Europe and the Middle East, PPG Steelguard 951 coating is now available in North and Latin America. PPG Steelguard 951 coating offers up to four hours of fire protection by expanding from a thin, lightweight film to a thick, insulating foam. This ensures structural integrity, gives more time for evacuation and reduces damage to buildings and assets.
The coating provides up to 3,500 microns of dry-film thickness in a single layer, cures quickly and is ready for use the next day. The PPG Steelguard 951 coating is perfect for modular construction projects designed for off-site and field applications. PPG's patented flexible epoxy technique ensures outstanding durability and edge retention, lowering the risk of cracking during handling and transit, and offers corrosion resistance up to ISO 12944 C5 without a topcoat.
This solution provides up to four hours of fire protection, passes strict testing criteria and supports modern construction procedures with its durable, versatile and efficient application qualities. PPG is committed to working with its customers to achieve the best possible safety and performance in their projects.
Shares of PPG have lost 7.5% over the past year compared with a 11.5% decline of its industry.
PPG projects adjusted EPS for the third quarter in the range of $2.10-$2.20. For the full year, the company expects adjusted EPS in the range of $8.15 to $8.30. These projections consider various factors such as current global economic activity, uneven global industrial production, reduced global automotive production, stabilizing demand in Europe, sustained growth in Mexico and India and low single-digit growth in China.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Key Picks
PPG currently carries a Zacks Rank #4 (Sell).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Eldorado Gold Corporation EGO and Hawkins, Inc. HWKN.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.9%. The company's shares have soared 125.1% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have rallied roughly 80.5% in the past year.
The Zacks Consensus Estimate for Hawkins’ current fiscal-year earnings is pegged at $4.14, indicating a rise of 15.3% from year-ago levels. The Zacks Consensus Estimate for HWKN’s current fiscal-year earnings has increased 12.8% in the past 60 days. HWKN, a Zacks Rank #1 stock, has rallied around 101% in the past year.
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