AlphaMark Advisors LLC Purchases 3,245 Shares of Corteva, Inc. (NYSE:CTVA)

AlphaMark Advisors LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 124.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,845 shares of the company’s stock after buying an additional 3,245 shares during the period. AlphaMark Advisors LLC’s holdings in Corteva were worth $337,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CTVA. Teza Capital Management LLC grew its holdings in Corteva by 274.2% in the third quarter. Teza Capital Management LLC now owns 24,011 shares of the company’s stock worth $1,228,000 after purchasing an additional 17,595 shares during the period. United Services Automobile Association grew its holdings in Corteva by 36.7% in the third quarter. United Services Automobile Association now owns 22,213 shares of the company’s stock worth $1,136,000 after purchasing an additional 5,965 shares during the period. Quadrature Capital Ltd grew its holdings in Corteva by 2,362.5% in the third quarter. Quadrature Capital Ltd now owns 184,320 shares of the company’s stock worth $9,430,000 after purchasing an additional 176,835 shares during the period. Glenmede Trust Co. NA grew its holdings in Corteva by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 393,420 shares of the company’s stock worth $20,127,000 after purchasing an additional 6,189 shares during the period. Finally, Wahed Invest LLC grew its holdings in Corteva by 6.5% in the third quarter. Wahed Invest LLC now owns 11,120 shares of the company’s stock worth $569,000 after purchasing an additional 682 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $53.06 on Tuesday. The firm has a market cap of $36.98 billion, a price-to-earnings ratio of 67.16, a P/E/G ratio of 1.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The firm’s 50-day simple moving average is $54.77 and its two-hundred day simple moving average is $52.83.

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

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of analyst reports. KeyCorp lifted their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Mizuho reduced their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. 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. Finally, Canaccord Genuity Group lifted their price objective on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Insider Activity

In other news, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the sale, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the company’s 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 sale, the insider now directly owns 53,854 shares in the company, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock valued at $4,795,016 over the last quarter. Company insiders own 0.20% of the company’s stock.

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.