Lombard Odier Asset Management USA Corp Sells 2,000 Shares of Corteva, Inc. (NYSE:CTVA)

Lombard Odier Asset Management USA Corp lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,841 shares of the company’s stock after selling 2,000 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Corteva were worth $585,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva in the 1st quarter worth about $25,000. Acadian Asset Management LLC bought a new stake in Corteva during the first quarter worth approximately $25,000. Rise Advisors LLC raised its position in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the period. Albion Financial Group UT lifted its stake in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. boosted its holdings 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 purchasing an additional 280 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 1.7 %

Shares of NYSE:CTVA opened at $57.58 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $40.13 billion, a PE ratio of 72.89, a P/E/G ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.92. The business’s fifty day simple moving average is $54.68 and its 200-day simple moving average is $54.77.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts predict 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 was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were 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 1.18%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s payout ratio is currently 86.08%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. KeyCorp cut their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Mizuho decreased their price target on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Profile

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.