Bank of New York Mellon Corp lowered its stake in CF Industries Holdings, Inc. (NYSE:CF) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,828,291 shares of the basic materials company’s stock after selling 495,266 shares during the quarter. Bank of New York Mellon Corp owned about 3.35% of CF Industries worth $347,576,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of CF. Manning & Napier Group LLC lifted its holdings in CF Industries by 700.3% in the second quarter. Manning & Napier Group LLC now owns 2,961,421 shares of the basic materials company’s stock worth $131,485,000 after purchasing an additional 2,591,386 shares during the period. PointState Capital LP acquired a new stake in CF Industries in the second quarter worth about $23,703,000. Janus Henderson Group PLC lifted its holdings in CF Industries by 56.4% in the second quarter. Janus Henderson Group PLC now owns 1,298,152 shares of the basic materials company’s stock worth $57,638,000 after purchasing an additional 468,073 shares during the period. First Trust Advisors LP lifted its holdings in CF Industries by 2,613.2% in the second quarter. First Trust Advisors LP now owns 453,297 shares of the basic materials company’s stock worth $20,126,000 after purchasing an additional 436,590 shares during the period. Finally, Platinum Investment Management Ltd. lifted its holdings in CF Industries by 7.2% in the second quarter. Platinum Investment Management Ltd. now owns 2,671,833 shares of the basic materials company’s stock worth $118,629,000 after purchasing an additional 180,300 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CF opened at $46.25 on Wednesday. CF Industries Holdings, Inc. has a twelve month low of $33.50 and a twelve month high of $56.51. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.80 and a quick ratio of 2.26. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of -184.52, a price-to-earnings-growth ratio of 4.83 and a beta of 0.99.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.59%. CF Industries’s payout ratio is presently -480.00%.
CF Industries announced that its board has initiated a stock buyback program on Wednesday, August 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
CF has been the subject of several research analyst reports. Citigroup upped their price objective on shares of CF Industries from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Wednesday, July 11th. Royal Bank of Canada raised shares of CF Industries from an “underperform” rating to a “sector perform” rating and upped their price objective for the stock from $38.00 to $42.00 in a report on Wednesday, July 18th. ValuEngine raised shares of CF Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Scotiabank reissued a “buy” rating and issued a $53.00 price target on shares of CF Industries in a report on Friday, August 3rd. Finally, Stephens reissued a “hold” rating and issued a $53.00 price target on shares of CF Industries in a report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.78.
In other CF Industries news, VP Adam L. Hall sold 20,256 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $48.59, for a total transaction of $984,239.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen A. Furbacher sold 2,000 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $49.52, for a total value of $99,040.00. Following the sale, the director now owns 54,690 shares in the company, valued at approximately $2,708,248.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,131 shares of company stock worth $1,976,560. Corporate insiders own 1.00% of the company’s stock.
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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