Cramer Rosenthal Mcglynn LLC Raises Position in Corteva, Inc. (NYSE:CTVA)

Cramer Rosenthal Mcglynn LLC lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 131.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 208,278 shares of the company’s stock after buying an additional 118,133 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Corteva were worth $11,864,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC lifted its position in shares of Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after buying an additional 157 shares in the last quarter. Beacon Capital Management LLC boosted its position in Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after buying an additional 158 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Corteva by 3.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after acquiring an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc increased its position in shares of Corteva by 5.5% during the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after acquiring an additional 166 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Up 0.8 %

Shares of NYSE:CTVA opened at $59.69 on Friday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The firm has a fifty day moving average price of $61.04 and a 200 day moving average price of $60.27. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $40.77 billion, a PE ratio of 46.27, a P/E/G ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 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%. Analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred 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 $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, March 31st. Royal Bank of Canada lifted their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Citigroup raised their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $68.13.

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.