California Public Employees Retirement System Sells 47,074 Shares of CF Industries Holdings, Inc. $CF

Key Points

• CalPERS reduced its CF Industries stake by 11.6% in the first quarter, selling 47,074 shares and leaving it with 357,358 shares valued at about $46.4 million.
• CF Industries raised its quarterly dividend to $0.60 per share from $0.50, which annualizes to $2.40 per share and implies a 1.9% yield.
• Analyst sentiment remains mixed: the stock’s consensus rating is “Hold,” with a consensus price target of $116.62, while several firms recently adjusted their targets and ratings.

California Public Employees Retirement System lessened its stake in CF Industries Holdings, Inc. (NYSE:CF - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 357,358 shares of the basic materials company's stock after selling 47,074 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of CF Industries worth $46,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CF. Norges Bank bought a new stake in CF Industries during the fourth quarter worth $193,657,000. Dimensional Fund Advisors LP increased its stake in shares of CF Industries by 37.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,312,225 shares of the basic materials company's stock worth $333,501,000 after purchasing an additional 1,178,516 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of CF Industries in the 2nd quarter valued at about $96,560,000. Caisse de depot et placement du Quebec lifted its stake in CF Industries by 52.4% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,775,106 shares of the basic materials company's stock valued at $159,227,000 after purchasing an additional 610,259 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in CF Industries by 115.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,019,926 shares of the basic materials company's stock worth $78,881,000 after purchasing an additional 545,668 shares during the period. 93.06% of the stock is owned by institutional investors.

CF Industries Trading Up 1.8%

CF stock opened at $123.64 on Tuesday. CF Industries Holdings, Inc. has a 52 week low of $75.42 and a 52 week high of $141.96. The company has a market capitalization of $18.99 billion, a PE ratio of 11.11 and a beta of 0.40. The company's 50-day simple moving average is $114.28 and its 200 day simple moving average is $109.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.54.

CF Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 14th. This is a boost from CF Industries's previous quarterly dividend of $0.50. CF Industries's dividend payout ratio (DPR) is currently 17.97%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Mizuho upped their price objective on CF Industries from $100.00 to $105.00 and gave the company an "underperform" rating in a research note on Tuesday, March 31st. BNP Paribas Exane reduced their target price on CF Industries from $140.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday, June 15th. JPMorgan Chase & Co. boosted their target price on CF Industries from $94.00 to $115.00 and gave the stock a "neutral" rating in a report on Wednesday, June 3rd. Royal Bank Of Canada dropped their price target on CF Industries from $125.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Friday. Finally, Zacks Research downgraded CF Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $116.62.

CF Industries Company Profile

CF Industries Holdings, Inc is a leading global manufacturer of hydrogen and nitrogen products for agricultural and industrial customers. The company specializes in the production of ammonia, granular urea, urea ammonium nitrate (UAN), nitric acid and ammonium nitrate, which serve as key inputs for fertilizer blends, industrial chemicals and other downstream applications.

Headquartered in Deerfield, Illinois, CF Industries operates production facilities and distribution terminals across North America and the United Kingdom.

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