CF Industries Holdings, Inc. (CF) Position Increased by Commonwealth Bank of Australia
Commonwealth Bank of Australia increased its holdings in shares of CF Industries Holdings, Inc. (NYSE:CF) by 13.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,403 shares of the basic materials company’s stock after buying an additional 4,100 shares during the quarter. Commonwealth Bank of Australia’s holdings in CF Industries were worth $1,923,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. First Mercantile Trust Co. bought a new stake in shares of CF Industries during the 3rd quarter valued at about $160,000. IBM Retirement Fund bought a new stake in shares of CF Industries during the 3rd quarter valued at about $206,000. Toronto Dominion Bank boosted its position in shares of CF Industries by 1.1% during the 3rd quarter. Toronto Dominion Bank now owns 151,730 shares of the basic materials company’s stock valued at $8,258,000 after purchasing an additional 1,722 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of CF Industries by 35.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,876 shares of the basic materials company’s stock valued at $105,172,000 after purchasing an additional 502,919 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of CF Industries by 14.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 795,989 shares of the basic materials company’s stock valued at $43,334,000 after purchasing an additional 99,953 shares in the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.
In other CF Industries news, Director Stephen A. Furbacher sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $51.43, for a total value of $51,430.00. Following the transaction, the director now owns 53,690 shares in the company, valued at $2,761,276.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen A. Furbacher sold 3,500 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $52.45, for a total value of $183,575.00. Following the completion of the transaction, the director now owns 50,190 shares in the company, 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 corporate insiders.
CF Industries (NYSE:CF) last announced its quarterly earnings results on Wednesday, October 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $993.94 million. CF Industries had a return on equity of 3.69% and a net margin of 16.06%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.39) EPS. Equities research analysts anticipate that CF Industries Holdings, Inc. will post 1.53 earnings per share for the current year.
CF Industries declared that its board has authorized a share buyback plan on Wednesday, August 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.71%. CF Industries’s payout ratio is currently -480.00%.
CF has been the topic of several research analyst reports. Scotiabank set a $60.00 target price on CF Industries and gave the company a “buy” rating in a research report on Monday, October 1st. UBS Group upped their target price on CF Industries from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Royal Bank of Canada set a $50.00 target price on CF Industries and gave the company a “hold” rating in a research report on Monday, October 1st. Cowen upped their target price on CF Industries from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research upgraded CF Industries from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, September 6th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. CF Industries presently has an average rating of “Buy” and a consensus price target 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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