Shell Asset Management Co. Has $1.68 Million Holdings in Corteva, Inc. $CTVA

Key Points

• Shell Asset Management Co. increased its holdings in Corteva, Inc. by 93.3% during the second quarter, owning 22,600 shares worth $1.68 million.
• Executive Vice President Robert D. King sold 37,280 shares of Corteva stock for approximately $2.77 million, reducing his ownership by 43.08%.
• Corteva recently announced a quarterly dividend increase to $0.18 per share, resulting in an annualized dividend yield of 1.1%.

Shell Asset Management Co. grew its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 93.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,600 shares of the company's stock after purchasing an additional 10,908 shares during the period. Shell Asset Management Co.'s holdings in Corteva were worth $1,684,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CTVA. Maryland Capital Advisors Inc. acquired a new position in Corteva during the second quarter worth $29,000. Valley National Advisers Inc. increased its holdings in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after purchasing an additional 243 shares during the last quarter. Richardson Capital Management LLC bought a new stake in shares of Corteva in the first quarter valued at about $37,000. DHJJ Financial Advisors Ltd. boosted its position in shares of Corteva by 132.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company's stock valued at $39,000 after acquiring an additional 300 shares during the period. Finally, von Borstel & Associates Inc. bought a new stake in shares of Corteva in the first quarter valued at about $44,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares of the company's stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Corteva Stock Down 3.8%

Shares of NYSE CTVA opened at $63.10 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 1.48 and a beta of 0.76. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The stock has a 50-day moving average price of $70.75 and a two-hundred day moving average price of $68.90.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The business's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 earnings per share. As a group, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.1%. Corteva's payout ratio is presently 35.12%.

Analyst Ratings Changes

CTVA has been the subject of a number of recent research reports. KeyCorp reissued a "sector weight" rating on shares of Corteva in a research report on Friday, October 3rd. Zacks Research raised shares of Corteva from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Morgan Stanley set a $84.00 price objective on shares of Corteva in a research report on Monday, September 15th. UBS Group cut their price objective on shares of Corteva from $91.00 to $85.00 and set a "buy" rating for the company in a research report on Monday. Finally, Wall Street Zen raised shares of Corteva from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $80.13.

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.

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