Aull & Monroe Investment Management Corp Sells 383 Shares of Corteva, Inc. (NYSE:CTVA)

Aull & Monroe Investment Management Corp cut its stake in Corteva, Inc. (NYSE:CTVA) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,645 shares of the company’s stock after selling 383 shares during the period. Aull & Monroe Investment Management Corp’s holdings in Corteva were worth $208,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Noble Wealth Management PBC bought a new stake in Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in Corteva during the fourth quarter worth $32,000. Centricity Wealth Management LLC bought a new stake in Corteva during the fourth quarter worth $34,000. Finally, First Financial Corp IN bought a new stake in Corteva during the fourth quarter worth $35,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Up 2.3 %

CTVA opened at $61.17 on Thursday. The business has a 50 day moving average of $61.52 and a 200-day moving average of $59.44. The stock has a market cap of $41.94 billion, a PE ratio of 47.42, a PEG ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Equities research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Corteva announced that its board has approved a share repurchase plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTVA. Bank of America upped their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Barclays upped their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada upped their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, KeyCorp increased their price target on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $67.79.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

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.