WoodTrust Financial Corp Invests $210,000 in Corteva, Inc. (NYSE:CTVA)

WoodTrust Financial Corp purchased a new position in Corteva, Inc. (NYSE:CTVA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,633 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. WCM Investment Management LLC grew its position in shares of Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after buying an additional 213,949 shares in the last quarter. Red Mountain Financial LLC bought a new position in Corteva during the 4th quarter worth about $862,000. California State Teachers Retirement System grew its holdings in Corteva by 15.1% during the 4th quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after acquiring an additional 181,883 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Corteva during the 1st quarter valued at about $1,965,000. Finally, 17 Capital Partners LLC bought a new stake in shares of Corteva in the 4th quarter valued at about $1,649,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

CTVA has been the topic of several research reports. Barclays lifted their price objective on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price objective (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Wolfe Research started coverage on Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, OTR Global restated a “negative” rating on shares of Corteva in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Stock Performance

Shares of CTVA stock traded up $0.29 during trading hours on Friday, hitting $53.94. The company’s stock had a trading volume of 6,301,369 shares, compared to its average volume of 3,420,539. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $54.77 and a 200 day moving average of $52.78. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The stock has a market cap of $37.60 billion, a PE ratio of 68.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. On average, sell-side analysts forecast that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

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.