M&T Bank Corp Has $122.11 Million Holdings in Corteva, Inc. (NYSE:CTVA)

M&T Bank Corp increased its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,077,000 shares of the company's stock after purchasing an additional 16,087 shares during the period. M&T Bank Corp owned 0.30% of Corteva worth $122,107,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. &PARTNERS increased its position in Corteva by 238.2% in the 2nd quarter. &PARTNERS now owns 16,332 shares of the company's stock valued at $876,000 after acquiring an additional 11,503 shares during the period. Kanawha Capital Management LLC bought a new stake in shares of Corteva during the second quarter valued at about $224,000. Raymond James Trust N.A. lifted its holdings in Corteva by 7.5% in the second quarter. Raymond James Trust N.A. now owns 35,758 shares of the company's stock worth $1,929,000 after purchasing an additional 2,499 shares during the period. Bank of New York Mellon Corp grew its position in Corteva by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company's stock valued at $369,106,000 after buying an additional 1,514,954 shares in the last quarter. Finally, Dearborn Partners LLC increased its stake in Corteva by 8.8% during the 2nd quarter. Dearborn Partners LLC now owns 6,787 shares of the company's stock valued at $366,000 after buying an additional 547 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a report on Friday, November 8th. UBS Group lifted their price target on Corteva from $67.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. KeyCorp upped their price objective on Corteva from $66.00 to $69.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Citigroup dropped their price target on shares of Corteva from $70.00 to $69.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley restated an "overweight" rating and set a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.41.

Corteva Stock Up 2.4 %

Shares of CTVA traded up $1.32 during trading hours on Friday, reaching $57.48. The company's stock had a trading volume of 10,975,927 shares, compared to its average volume of 3,345,328. The company has a 50 day moving average of $59.75 and a two-hundred day moving average of $56.35. The firm has a market cap of $39.51 billion, a price-to-earnings ratio of 58.06, a P/E/G ratio of 1.94 and a beta of 0.77. Corteva, Inc. has a 1-year low of $44.01 and a 1-year high of $64.20. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Corteva announced that its Board of Directors has approved a stock buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. Corteva's dividend payout ratio is 68.69%.

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.