Arlington Partners LLC Sells 3,309 Shares of Corteva, Inc. (NYSE:CTVA)

Arlington Partners LLC decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 5.2% during the 2nd quarter, Holdings Channel reports. The fund owned 60,640 shares of the company’s stock after selling 3,309 shares during the quarter. Corteva accounts for about 1.6% of Arlington Partners LLC’s investment portfolio, making the stock its 21st biggest holding. Arlington Partners LLC’s holdings in Corteva were worth $3,271,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CTVA. Mediolanum International Funds Ltd acquired a new stake in shares of Corteva in the first quarter valued at approximately $2,270,000. Red Mountain Financial LLC bought a new position in shares of Corteva in the fourth quarter valued at $862,000. California State Teachers Retirement System grew its stake in shares of Corteva by 15.1% in the fourth quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock valued at $66,287,000 after buying an additional 181,883 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Corteva by 14.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock valued at $54,678,000 after buying an additional 121,817 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Corteva in the first quarter valued at $1,965,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

CTVA stock traded up $0.30 during midday trading on Friday, reaching $57.30. The company had a trading volume of 4,229,129 shares, compared to its average volume of 2,698,832. The company has a market capitalization of $39.67 billion, a price-to-earnings ratio of 72.53, a price-to-earnings-growth ratio of 1.65 and a beta of 0.77. The stock has a 50 day moving average price of $53.58 and a 200-day moving average price of $54.57. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. Corteva’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 earnings per share. Equities research analysts expect that Corteva, Inc. will post 2.72 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.19%. Corteva’s payout ratio is presently 81.01%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTVA. Mizuho decreased their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Royal Bank of Canada lifted their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. reduced their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

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.