Aull & Monroe Investment Management Corp Trims Position in Corteva, Inc. $CTVA

Aull & Monroe Investment Management Corp decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 13.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,152 shares of the company’s stock after selling 493 shares during the quarter. Aull & Monroe Investment Management Corp’s holdings in Corteva were worth $235,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Moody National Bank Trust Division raised its stake in Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after purchasing an additional 143 shares during the period. Ancora Advisors LLC raised its stake in Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC raised its stake in Corteva by 0.5% during the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after purchasing an additional 152 shares during the period. Plancorp LLC raised its stake in Corteva by 2.3% during the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after purchasing an additional 158 shares during the period. Finally, Legacy Financial Advisors Inc. increased its position in shares of Corteva by 4.4% in the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock worth $237,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of several recent research reports. Jefferies Financial Group dropped their price objective on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Mizuho dropped their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Morgan Stanley set a $84.00 price objective on shares of Corteva in a research report on Monday, September 15th. Argus dropped their price objective on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $80.31.

Insiders Place Their Bets

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Corteva Price Performance

CTVA opened at $61.45 on Friday. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The firm has a market cap of $41.73 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.40 and a beta of 0.76. The company has a fifty day simple moving average of $69.44 and a 200 day simple moving average of $68.92.

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

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. Corteva’s payout ratio is 35.12%.

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.