Sterling Capital Management LLC purchased a new position in shares of Corteva (NYSE:CTVA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 52,401 shares of the company’s stock, valued at approximately $1,549,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Sasco Capital Inc. CT purchased a new stake in Corteva in the 2nd quarter valued at about $8,686,000. MRJ Capital Inc. purchased a new stake in Corteva in the 2nd quarter valued at about $2,224,000. Pathstone Family Office LLC purchased a new stake in Corteva in the 2nd quarter valued at about $50,000. Private Advisor Group LLC purchased a new stake in Corteva in the 2nd quarter valued at about $3,172,000. Finally, Cooperman Leon G purchased a new stake in Corteva in the 2nd quarter valued at about $10,834,000. 72.15% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:CTVA traded up $0.01 during trading hours on Friday, hitting $29.15. The company’s stock had a trading volume of 39,840 shares, compared to its average volume of 4,009,028. Corteva has a 52 week low of $24.35 and a 52 week high of $32.78. The company’s fifty day moving average is $29.74.
Corteva (NYSE:CTVA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.99 by $0.43. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Sell-side analysts expect that Corteva will post 1.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, July 31st were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, July 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.78%.
Several research firms have issued reports on CTVA. Barclays reissued a “hold” rating and issued a $35.00 price objective on shares of Corteva in a research report on Sunday, August 4th. Macquarie began coverage on shares of Corteva in a research report on Tuesday, June 4th. They issued an “outperform” rating for the company. SunTrust Banks began coverage on shares of Corteva in a research report on Monday, June 3rd. They issued a “hold” rating and a $29.00 price objective for the company. Citigroup raised shares of Corteva from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $34.50 in a research report on Monday, August 19th. Finally, Monness Crespi & Hardt began coverage on shares of Corteva in a research report on Wednesday, July 17th. They issued a “sell” rating and a $24.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Corteva presently has an average rating of “Hold” and an average target price of $32.25.
In other news, Director Klaus A. Engel acquired 18,393 shares of Corteva stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average price of $30.00 per share, for a total transaction of $551,790.00. Following the purchase, the director now directly owns 25,253 shares in the company, valued at approximately $757,590. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
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