Montchanin Asset Management LLC Makes New $1.01 Million Investment in Corteva, Inc. (NYSE:CTVA)

Montchanin Asset Management LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 17,489 shares of the company’s stock, valued at approximately $1,009,000. Corteva comprises 1.0% of Montchanin Asset Management LLC’s investment portfolio, making the stock its 26th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Pinnacle Associates Ltd. boosted its stake in Corteva by 2.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 28,117 shares of the company’s stock valued at $1,347,000 after purchasing an additional 681 shares during the period. AdvisorNet Financial Inc raised its stake in Corteva by 13.2% during the 4th quarter. AdvisorNet Financial Inc now owns 3,757 shares of the company’s stock valued at $180,000 after purchasing an additional 438 shares during the last quarter. Chicago Capital LLC increased its holdings in shares of Corteva by 54.1% during the 4th quarter. Chicago Capital LLC now owns 6,506 shares of the company’s stock worth $312,000 after purchasing an additional 2,285 shares during the period. Pallas Capital Advisors LLC raised its position in shares of Corteva by 6.1% during the fourth quarter. Pallas Capital Advisors LLC now owns 57,953 shares of the company’s stock valued at $2,777,000 after buying an additional 3,329 shares during the last quarter. Finally, Essex Savings Bank bought a new stake in shares of Corteva in the fourth quarter valued at about $209,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CTVA shares. BMO Capital Markets boosted their target price on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Wells Fargo & Company lifted their target price on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Barclays boosted their price objective on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. Finally, Oppenheimer upped their price target on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Insider Buying and Selling

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 over the last quarter. 0.14% of the stock is owned by company insiders.

Corteva Stock Performance

Shares of NYSE CTVA traded down $3.10 during midday trading on Thursday, hitting $53.00. 5,904,443 shares of the company’s stock were exchanged, compared to its average volume of 3,424,537. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.76. The company’s 50 day moving average price is $53.56 and its 200 day moving average price is $53.82. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $36.94 billion, a PE ratio of 67.09, a price-to-earnings-growth ratio of 1.50 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the business posted $1.60 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts predict that Corteva, Inc. will post 2.78 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. The ex-dividend date is Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.28%. Corteva’s payout ratio is currently 81.01%.

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.