Keybank National Association OH cut its stake in CF Industries Holdings, Inc. (NYSE:CF) by 21.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 23,375 shares of the basic materials company’s stock after selling 6,500 shares during the quarter. Keybank National Association OH’s holdings in CF Industries were worth $1,273,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CF. Huntington National Bank purchased a new position in CF Industries in the 3rd quarter worth approximately $112,000. Blackhawk Capital Partners LLC. lifted its stake in CF Industries by 485.7% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 2,665 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 2,210 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in CF Industries in the 2nd quarter worth approximately $121,000. Point72 Hong Kong Ltd purchased a new position in CF Industries in the 2nd quarter worth approximately $127,000. Finally, First Mercantile Trust Co. purchased a new position in CF Industries in the 3rd quarter worth approximately $160,000. 99.79% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Stephen A. Furbacher sold 1,000 shares of CF Industries stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $51.43, for a total value of $51,430.00. Following the completion of the sale, the director now owns 53,690 shares in the company, valued at approximately $2,761,276.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen A. Furbacher sold 3,500 shares of CF Industries stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $52.45, for a total transaction of $183,575.00. Following the completion of the sale, the director now owns 50,190 shares of the company’s stock, valued at approximately $2,632,465.50. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
CF Industries (NYSE:CF) last released its quarterly earnings results on Wednesday, October 31st. The basic materials company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $993.94 million. CF Industries had a net margin of 16.06% and a return on equity of 3.69%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.39) EPS. Analysts forecast that CF Industries Holdings, Inc. will post 1.53 earnings per share for the current year.
CF Industries announced that its board has authorized a stock buyback plan on Wednesday, August 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, November 14th. CF Industries’s payout ratio is presently -480.00%.
A number of research firms have weighed in on CF. ValuEngine lowered shares of CF Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 15th. Citigroup raised shares of CF Industries from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $60.00 in a research note on Friday, November 2nd. Bank of America raised shares of CF Industries from an “underperform” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, October 31st. Morgan Stanley raised their target price on shares of CF Industries from $37.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, October 10th. Finally, Cowen raised their target price on shares of CF Industries from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, October 4th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $51.52.
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CF Industries Profile
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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