Massmutual Trust Co. FSB ADV Grows Stock Position in Corteva, Inc. (NYSE:CTVA)

Massmutual Trust Co. FSB ADV increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 15.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,032 shares of the company’s stock after purchasing an additional 273 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Corteva were worth $110,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Corteva by 27.3% in the 2nd quarter. GAMMA Investing LLC now owns 7,324 shares of the company’s stock valued at $395,000 after buying an additional 1,569 shares in the last quarter. Transcend Capital Advisors LLC boosted its position in shares of Corteva by 46.6% during the 2nd quarter. Transcend Capital Advisors LLC now owns 10,171 shares of the company’s stock valued at $549,000 after acquiring an additional 3,231 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Corteva by 1.1% in the first quarter. Westwood Holdings Group Inc. now owns 160,761 shares of the company’s stock valued at $9,271,000 after purchasing an additional 1,812 shares during the period. Cetera Advisors LLC increased its position in Corteva by 39.1% during the first quarter. Cetera Advisors LLC now owns 34,424 shares of the company’s stock worth $1,985,000 after purchasing an additional 9,675 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Corteva by 221.9% during the first quarter. Cetera Investment Advisers now owns 119,493 shares of the company’s stock worth $6,891,000 after purchasing an additional 82,369 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corteva

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction dated 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 this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Wells Fargo & Company lowered their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. cut their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday. KeyCorp lowered their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday. Finally, BMO Capital Markets boosted their price objective on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Corteva Stock Performance

NYSE CTVA traded down $0.13 during trading hours on Tuesday, hitting $51.18. 3,582,875 shares of the stock were exchanged, compared to its average volume of 3,430,502. The company has a quick ratio of 0.97, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The company has a market cap of $35.67 billion, a price-to-earnings ratio of 65.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The stock has a 50-day moving average of $53.40 and a 200 day moving average of $54.03.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. Corteva’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 earnings per share. As a group, equities research analysts forecast that Corteva, Inc. will post 2.73 earnings per share for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 3rd. Corteva’s dividend payout ratio is 81.01%.

Corteva 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.