Strong Tower Advisory Services Buys 10,127 Shares of Corteva, Inc. (NYSE:CTVA)

Strong Tower Advisory Services lifted its stake in Corteva, Inc. (NYSE:CTVA) by 44.2% during the third quarter, Holdings Channel reports. The fund owned 33,028 shares of the company’s stock after acquiring an additional 10,127 shares during the quarter. Strong Tower Advisory Services’ holdings in Corteva were worth $1,942,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC acquired a new position in Corteva during the first quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new position in Corteva in the 1st quarter valued at $25,000. Rise Advisors LLC raised its holdings in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the period. Scarborough Advisors LLC acquired a new position in Corteva during the 4th quarter worth $29,000. Finally, Albion Financial Group UT boosted its holdings in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

NYSE:CTVA traded up $0.87 on Friday, reaching $57.42. The stock had a trading volume of 218,813 shares, compared to its average volume of 3,266,407. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $59.08. The stock has a fifty day moving average price of $55.53 and a 200-day moving average price of $55.04. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $39.75 billion, a P/E ratio of 43.50, a price-to-earnings-growth ratio of 1.66 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, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is presently 52.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Mizuho dropped their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Wells Fargo & Company reduced their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. KeyCorp reduced their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $61.94.

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.