State Board of Administration of Florida Retirement System cut its holdings in CF Industries Holdings, Inc. (NYSE:CF) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,575 shares of the basic materials company’s stock after selling 6,660 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of CF Industries worth $18,269,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in CF Industries by 56.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,298,152 shares of the basic materials company’s stock valued at $57,638,000 after purchasing an additional 468,073 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its holdings in CF Industries by 160.4% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 106,176 shares of the basic materials company’s stock valued at $4,714,000 after purchasing an additional 65,407 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in CF Industries in the 2nd quarter valued at about $824,000. Renaissance Technologies LLC lifted its holdings in CF Industries by 86.9% in the 2nd quarter. Renaissance Technologies LLC now owns 226,900 shares of the basic materials company’s stock valued at $10,074,000 after purchasing an additional 105,500 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in CF Industries in the 2nd quarter valued at about $127,000. Institutional investors and hedge funds own 98.77% of the company’s stock.
A number of research analysts have issued reports on CF shares. Scotiabank set a $60.00 target price on shares of CF Industries and gave the company a “buy” rating in a report on Monday, October 1st. UBS Group upped their target price on shares of CF Industries from $58.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. Royal Bank of Canada set a $50.00 target price on shares of CF Industries and gave the company a “hold” rating in a report on Monday, October 1st. Zacks Investment Research upgraded shares of CF Industries from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, September 6th. Finally, Cowen upped their price objective on shares of CF Industries from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. CF Industries presently has a consensus rating of “Hold” and an average price target of $51.52.
In related news, Director Stephen A. Furbacher sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $51.43, for a total transaction of $51,430.00. Following the completion of the sale, the director now owns 53,690 shares of the company’s stock, valued at approximately $2,761,276.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
NYSE CF opened at $52.22 on Friday. CF Industries Holdings, Inc. has a 12 month low of $33.50 and a 12 month high of $56.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.03 and a quick ratio of 1.69. The stock has a market cap of $12.36 billion, a PE ratio of 53.02, a P/E/G ratio of 5.71 and a beta of 1.09.
CF Industries (NYSE:CF) last posted its quarterly earnings data on Wednesday, October 31st. The basic materials company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). CF Industries had a net margin of 16.06% and a return on equity of 3.69%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $993.94 million. During the same period in the prior year, the company earned ($0.39) EPS. The company’s revenue was up 19.5% compared to the same quarter last year. On average, analysts expect that CF Industries Holdings, Inc. will post 1.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, November 14th. CF Industries’s dividend payout ratio (DPR) is presently -480.00%.
CF Industries announced that its board has initiated a share buyback program on Wednesday, August 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the basic materials company to buy up to 4.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
About CF Industries
CF Industries Holdings, Inc manufactures and distributes nitrogen fertilizers and other nitrogen products worldwide. The company operates through Ammonia, Granular Urea, UAN, AN, and Other segments. Its principal nitrogen fertilizer products include ammonia, granular urea, urea ammonium nitrate, and ammonium nitrate.
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