Azzad Asset Management Inc. ADV Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

Azzad Asset Management Inc. ADV boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 11.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,997 shares of the company’s stock after purchasing an additional 4,986 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Corteva were worth $2,768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC grew its position in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Corteva in the 4th quarter worth approximately $25,000. Ironwood Wealth Management Inc. grew its position in shares of Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after acquiring an additional 280 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Corteva in the 4th quarter worth approximately $29,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter worth approximately $27,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Down 0.5 %

Shares of Corteva stock opened at $52.48 on Thursday. The stock’s fifty day moving average is $54.68 and its 200-day moving average is $52.92. The firm has a market capitalization of $36.58 billion, a PE ratio of 66.43, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. Corteva’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. Equities analysts anticipate that Corteva, Inc. will post 2.8 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Corteva’s dividend payout ratio is 81.01%.

Insider Activity

In other news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now owns 126,628 shares in the company, valued at $7,269,713.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,556 shares of company stock worth $4,795,016. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on CTVA shares. Royal Bank of Canada boosted their price objective on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. BMO Capital Markets boosted their price objective on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Canaccord Genuity Group boosted their price objective on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. OTR Global restated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Finally, Barclays boosted their price objective on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.00.

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.