Ilmarinen Mutual Pension Insurance Co Has $3.70 Million Position in Corteva, Inc. (NYSE:CTVA)

Ilmarinen Mutual Pension Insurance Co grew its stake in Corteva, Inc. (NYSE:CTVA) by 44.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Corteva were worth $3,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. lifted its holdings in Corteva by 64.9% in the third quarter. Benjamin Edwards Inc. now owns 8,528 shares of the company’s stock valued at $502,000 after buying an additional 3,357 shares during the period. IHT Wealth Management LLC bought a new position in shares of Corteva in the 3rd quarter worth about $201,000. Royal London Asset Management Ltd. lifted its stake in shares of Corteva by 2.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 291,763 shares of the company’s stock valued at $17,153,000 after purchasing an additional 7,219 shares during the period. Quantinno Capital Management LP boosted its position in shares of Corteva by 323.2% during the 3rd quarter. Quantinno Capital Management LP now owns 82,998 shares of the company’s stock valued at $4,879,000 after purchasing an additional 63,388 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in Corteva by 2.0% during the third quarter. Stifel Financial Corp now owns 367,328 shares of the company’s stock worth $21,595,000 after purchasing an additional 7,181 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Monday, March 31st. Royal Bank of Canada raised their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays upped their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Finally, KeyCorp raised their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.06.

Corteva Stock Down 9.2 %

CTVA opened at $55.66 on Friday. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company’s 50-day moving average is $62.36 and its 200 day moving average is $60.29. The firm has a market capitalization of $38.02 billion, a P/E ratio of 43.15, a PEG ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

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.