Uncommon Cents Investing LLC Buys New Shares in Corteva, Inc. $CTVA

Uncommon Cents Investing LLC purchased a new position in Corteva, Inc. (NYSE:CTVA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,125 shares of the company’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Corteva by 0.8% in the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after buying an additional 639,799 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Corteva by 1.8% in the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after buying an additional 288,792 shares in the last quarter. Northern Trust Corp raised its stake in Corteva by 1.0% during the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock valued at $740,041,000 after purchasing an additional 110,865 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Corteva in the first quarter valued at $640,333,000. Finally, WCM Investment Management LLC raised its stake in shares of Corteva by 1.4% in the first quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company’s stock valued at $426,088,000 after acquiring an additional 98,770 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

NYSE:CTVA opened at $68.06 on Monday. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $72.11 and its 200-day simple moving average is $68.84. The stock has a market cap of $46.22 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.56 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.83 EPS. Analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. Corteva’s dividend payout ratio is currently 35.12%.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

CTVA has been the topic of several recent research reports. UBS Group increased their target price on shares of Corteva from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Citigroup lowered shares of Corteva from a “neutral” rating to a “mixed” rating in a report on Friday, September 5th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $75.00 to $84.00 in a report on Wednesday, August 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

About Corteva

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.