Acadian Asset Management LLC Purchases 19,234 Shares of Corteva, Inc. (NYSE:CTVA)

Acadian Asset Management LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 4,322.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,679 shares of the company’s stock after purchasing an additional 19,234 shares during the quarter. Acadian Asset Management LLC’s holdings in Corteva were worth $1,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. &PARTNERS lifted its position in shares of Corteva by 4.3% during the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after buying an additional 200 shares in the last quarter. Herr Investment Group LLC boosted its holdings in Corteva by 2.8% in the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after buying an additional 200 shares during the period. Azzad Asset Management Inc. ADV increased its stake in Corteva by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after buying an additional 203 shares in the last quarter. Albion Financial Group UT raised its holdings in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Corteva by 1.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after acquiring an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

CTVA opened at $56.27 on Tuesday. The company has a market capitalization of $38.95 billion, a price-to-earnings ratio of 71.23, a PEG ratio of 1.60 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 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. The business’s fifty day simple moving average is $54.21 and its 200-day simple moving average is $54.66.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 EPS. On average, equities research analysts anticipate that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s payout ratio is currently 86.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CTVA shares. Wells Fargo & Company reduced their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. Finally, Mizuho decreased their target price on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $61.67.

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.