Mutual of America Capital Management LLC Decreases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Mutual of America Capital Management LLC lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,897 shares of the company’s stock after selling 4,116 shares during the period. Mutual of America Capital Management LLC’s holdings in Corteva were worth $4,741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors increased its stake in shares of Corteva by 2.6% during the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after purchasing an additional 678,722 shares during the last quarter. Northern Trust Corp increased its position in Corteva by 2.5% in the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after buying an additional 310,012 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Corteva by 7.2% in the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after buying an additional 617,030 shares during the period. Harris Associates L P lifted its position in shares of Corteva by 87.1% during the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after buying an additional 4,194,981 shares during the last quarter. Finally, Putnam Investments LLC increased its holdings in Corteva by 12.9% in the 4th quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock worth $428,902,000 after acquiring an additional 1,021,733 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 1.7 %

NYSE CTVA opened at $57.58 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The stock’s 50-day simple moving average is $54.68 and its two-hundred day simple moving average is $54.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.92. The company has a market capitalization of $40.13 billion, a price-to-earnings ratio of 72.89, a PEG ratio of 1.60 and a beta of 0.77.

Corteva (NYSE:CTVA) last released 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 return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the company posted $1.60 EPS. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts forecast that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Mizuho dropped their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Wells Fargo & Company cut their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. KeyCorp cut their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

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.