Adams Natural Resources Fund Inc. Has $5.41 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Adams Natural Resources Fund Inc. lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 91,945 shares of the company’s stock after selling 1,200 shares during the quarter. Corteva accounts for about 0.8% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 27th biggest position. Adams Natural Resources Fund Inc.’s holdings in Corteva were worth $5,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC grew its stake in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares in the last quarter. Pinnacle Bancorp Inc. grew its stake in Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after acquiring an additional 199 shares in the last quarter. Herr Investment Group LLC grew its stake in Corteva by 2.8% during the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after acquiring an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV grew its stake in Corteva by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after acquiring an additional 203 shares in the last quarter. Finally, Westhampton Capital LLC grew its stake in Corteva by 2.5% during the 3rd quarter. Westhampton Capital LLC now owns 8,641 shares of the company’s stock valued at $508,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. KeyCorp lowered their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and boosted their price target for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. Finally, Argus cut Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $62.84.

Corteva Stock Down 0.5 %

CTVA opened at $60.80 on Wednesday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $61.38. The firm has a market cap of $42.38 billion, a P/E ratio of 76.96, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The business has a 50 day moving average price of $57.41 and a 200 day moving average price of $55.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period in the previous year, the company earned $1.60 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

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.