7,786 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,786 shares of the company’s stock, valued at approximately $420,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Capital International Investors boosted its position in Corteva by 47.2% during the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after acquiring an additional 8,260,808 shares in the last quarter. Harris Associates L P lifted its stake in shares of Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after purchasing an additional 4,194,981 shares during the period. Anomaly Capital Management LP bought a new stake in shares of Corteva during the second quarter valued at approximately $188,578,000. Vaughan Nelson Investment Management L.P. grew its stake in Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after purchasing an additional 3,254,126 shares during the period. Finally, Glenview Capital Management LLC raised its holdings in Corteva by 116.6% in the fourth quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after purchasing an additional 2,529,539 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 1.0 %

Shares of CTVA opened at $58.58 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a market capitalization of $40.83 billion, a price-to-earnings ratio of 74.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $59.08. The business’s 50 day simple moving average is $55.02 and its 200-day simple moving average is $54.88.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share 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 firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the previous year, the firm posted $1.60 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts expect that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is 86.08%.

Analyst Ratings Changes

CTVA has been the subject of a number of analyst reports. Mizuho decreased their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Finally, KeyCorp reduced their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.94.

Corteva Company 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.