Mitsubishi UFJ Asset Management Co. Ltd. Purchases 91,801 Shares of Corteva, Inc. $CTVA

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 7.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,315,097 shares of the company’s stock after purchasing an additional 91,801 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Corteva worth $98,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. bought a new position in shares of Corteva during the 2nd quarter valued at about $25,000. Curat Global LLC boosted its stake in Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after buying an additional 179 shares in the last quarter. Maryland Capital Advisors Inc. bought a new position in Corteva during the second quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. raised its stake in shares of Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings in shares of Corteva by 61.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Up 1.4%

NYSE CTVA opened at $64.05 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.23. The stock has a market capitalization of $43.49 billion, a PE ratio of 27.37, a PEG ratio of 1.42 and a beta of 0.81. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The business’s 50-day moving average is $66.41 and its 200 day moving average is $69.45.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company posted ($0.49) EPS. Corteva’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio is currently 30.77%.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a research note on Saturday. Mizuho decreased their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Morgan Stanley set a $84.00 target price on Corteva in a report on Monday, September 15th. Finally, UBS Group decreased their price target on Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Fifteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.35.

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.