Paradigm Asset Management Co. LLC Purchases New Shares in Corteva, Inc. (NYSE:CTVA)

Paradigm Asset Management Co. LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 32,300 shares of the company’s stock, valued at approximately $1,840,000.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTVA. UBS Group lowered their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America lifted their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Stock Up 0.2 %

Shares of CTVA opened at $63.77 on Friday. The firm has a market cap of $43.72 billion, a P/E ratio of 49.44, a price-to-earnings-growth ratio of 1.67 and a beta of 0.78. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company’s 50-day moving average price is $60.74 and its 200 day moving average price is $58.74. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued 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, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva declared that its Board of Directors has approved a share buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

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.