Chemical maker DuPont reported a 23 percent jump in third-quarter profit on Tuesday, helped by price hikes and strong demand for a key paint pigment.

For the third quarter, the company posted net income of $452 million, or 48 cents per share, compared with $367 million, or 40 cents per share, in the year-earlier period.

Net sales rose 32 percent to $9.24 billion. Analysts expected $8.79 billion.

DuPont raised prices 15 percent across its portfolio during the quarter, with volume rising 1 percent.

Operating income in the company's performance chemicals unit, which makes titanium dioxide pigment for paint, more than doubled.

For the year, DuPont expects to earn $3.97 to $4.05 per share. The company had previously forecast $3.90 to $4.05 per share.

Analysts expect 2011 earnings of $3.96 per share, according to Thomson Reuters I/B/E/S.

(Reporting by Ernest Scheyder; Editing by Derek Caney)