State Treasurer State of Michigan Makes New Investment in Corteva (NASDAQ:CTVA)

State Treasurer State of Michigan acquired a new position in shares of Corteva (NASDAQ:CTVA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 179,311 shares of the company’s stock, valued at approximately $5,302,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Neville Rodie & Shaw Inc. bought a new position in Corteva during the second quarter valued at approximately $1,659,000. Park National Corp OH bought a new position in shares of Corteva in the second quarter valued at approximately $1,981,000. Private Asset Management Inc. bought a new position in shares of Corteva in the second quarter valued at approximately $654,000. Fulton Bank N.A. bought a new position in shares of Corteva in the second quarter valued at approximately $208,000. Finally, Summit Financial Group Inc. bought a new position in shares of Corteva in the second quarter valued at approximately $422,000.

In other Corteva news, Director Gregory R. Page purchased 2,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were purchased at an average price of $25.49 per share, for a total transaction of $50,980.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Corteva stock traded down $0.18 during midday trading on Friday, hitting $31.43. The company had a trading volume of 24,102 shares, compared to its average volume of 6,960,985. The company’s 50 day moving average price is $28.57. Corteva has a 1-year low of $24.35 and a 1-year high of $32.78.

Corteva (NASDAQ:CTVA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.43. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.47 billion. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, July 31st will be paid a $0.13 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.65%.

A number of equities analysts have recently commented on the stock. Monness Crespi & Hardt assumed coverage on shares of Corteva in a research report on Wednesday, July 17th. They issued a “sell” rating and a $24.00 price target on the stock. Loop Capital assumed coverage on shares of Corteva in a research report on Monday, July 1st. They issued a “hold” rating and a $31.00 price target on the stock. Argus assumed coverage on shares of Corteva in a research report on Thursday, June 20th. They issued a “hold” rating on the stock. Morgan Stanley assumed coverage on shares of Corteva in a research report on Monday, June 3rd. They issued an “equal weight” rating and a $32.00 price target on the stock. Finally, Royal Bank of Canada raised shares of Corteva from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $29.00 to $38.00 in a research report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.86.

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Institutional Ownership by Quarter for Corteva (NASDAQ:CTVA)

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