Sage Mountain Advisors LLC Invests $284,000 in Corteva, Inc. $CTVA

Sage Mountain Advisors LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,813 shares of the company’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. AlphaQuest LLC purchased a new stake in shares of Corteva during the second quarter worth about $1,593,000. Moloney Securities Asset Management LLC purchased a new stake in shares of Corteva during the second quarter worth about $209,000. Carnegie Investment Counsel grew its holdings in shares of Corteva by 3.0% during the second quarter. Carnegie Investment Counsel now owns 5,607 shares of the company’s stock worth $418,000 after buying an additional 164 shares in the last quarter. FSM Wealth Advisors LLC purchased a new stake in Corteva in the second quarter valued at approximately $205,000. Finally, Bleakley Financial Group LLC grew its holdings in Corteva by 21.4% in the second quarter. Bleakley Financial Group LLC now owns 15,635 shares of the company’s stock valued at $1,165,000 after purchasing an additional 2,754 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.

Corteva Trading Up 0.2%

Shares of CTVA stock opened at $63.63 on Monday. The stock has a market cap of $43.21 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.76. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The firm’s 50 day moving average price is $68.53 and its two-hundred day moving average price is $69.20.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 earnings per share. On average, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. Corteva’s dividend payout ratio is presently 35.12%.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of recent analyst reports. UBS Group lowered their target price on shares of Corteva from $91.00 to $85.00 and set a “buy” rating for the company in a report on Monday, October 6th. BMO Capital Markets set a $86.00 target price on shares of Corteva in a report on Monday, September 15th. Zacks Research upgraded shares of Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Wall Street Zen downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Oppenheimer lowered their target price on shares of Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $79.94.

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.