Paradigm Asset Management Co. LLC Makes New $1.84 Million Investment in Corteva, Inc. (NYSE:CTVA)

Paradigm Asset Management Co. LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 32,300 shares of the company’s stock, valued at approximately $1,840,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. Hager Investment Management Services LLC bought a new position in Corteva during the 4th quarter worth about $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva in the 4th quarter valued at about $32,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Corteva in the 4th quarter valued at about $34,000. Finally, First Financial Corp IN bought a new stake in shares of Corteva in the 4th quarter valued at about $35,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

CTVA opened at $63.77 on Friday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. 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 firm has a market capitalization of $43.72 billion, a PE ratio of 49.44, a P/E/G ratio of 1.67 and a beta of 0.78. The firm has a 50 day moving average of $60.74 and a two-hundred day moving average of $58.74.

Corteva (NYSE:CTVA) last posted its quarterly earnings results 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 return on equity of 7.19% and a net margin of 5.36%. On average, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on CTVA shares. Oppenheimer raised their price target on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. UBS Group lowered their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Bank of America raised their price target on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $67.73.

About Corteva

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.