Bank of Nova Scotia Has $1.73 Million Position in CF Industries Holdings, Inc. (NYSE:CF)

Bank of Nova Scotia trimmed its position in shares of CF Industries Holdings, Inc. (NYSE:CF - Free Report) by 63.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,107 shares of the basic materials company's stock after selling 38,807 shares during the period. Bank of Nova Scotia's holdings in CF Industries were worth $1,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC acquired a new stake in shares of CF Industries during the 1st quarter valued at $305,000. Alberta Investment Management Corp acquired a new stake in shares of CF Industries during the 1st quarter valued at $3,087,000. Foster & Motley Inc. boosted its stake in shares of CF Industries by 49.2% during the 1st quarter. Foster & Motley Inc. now owns 14,189 shares of the basic materials company's stock valued at $1,109,000 after buying an additional 4,680 shares during the period. Howard Capital Management Inc. boosted its stake in shares of CF Industries by 0.6% during the 1st quarter. Howard Capital Management Inc. now owns 51,009 shares of the basic materials company's stock valued at $3,986,000 after buying an additional 325 shares during the period. Finally, Bayforest Capital Ltd boosted its stake in shares of CF Industries by 103.5% during the 1st quarter. Bayforest Capital Ltd now owns 3,223 shares of the basic materials company's stock valued at $252,000 after buying an additional 1,639 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

CF Industries Stock Performance

Shares of CF traded down $2.21 during trading hours on Friday, reaching $80.68. 5,730,841 shares of the company traded hands, compared to its average volume of 2,438,639. The stock's fifty day moving average is $93.88 and its 200 day moving average is $85.47. The stock has a market cap of $13.68 billion, a P/E ratio of 10.53 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.22 and a current ratio of 3.22. CF Industries Holdings, Inc. has a 1-year low of $67.34 and a 1-year high of $104.45.

CF Industries (NYSE:CF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $0.02. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.73 billion. CF Industries had a net margin of 20.19% and a return on equity of 17.10%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.30 earnings per share. Equities research analysts anticipate that CF Industries Holdings, Inc. will post 5.83 earnings per share for the current fiscal year.

CF Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. CF Industries's payout ratio is presently 26.11%.

CF Industries announced that its Board of Directors has authorized a stock buyback program on Wednesday, May 7th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 14.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

CF has been the subject of a number of research reports. UBS Group decreased their target price on shares of CF Industries from $103.00 to $101.00 and set a "neutral" rating for the company in a research note on Thursday. Oppenheimer lowered shares of CF Industries from an "outperform" rating to a "market perform" rating in a research note on Tuesday, April 22nd. Wolfe Research lowered shares of CF Industries from an "outperform" rating to a "peer perform" rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. raised shares of CF Industries from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $75.00 to $92.00 in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company lifted their price objective on shares of CF Industries from $105.00 to $108.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Thirteen analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $95.57.

Insiders Place Their Bets

In related news, EVP Susan L. Menzel sold 10,000 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.23, for a total value of $1,002,300.00. Following the sale, the executive vice president owned 87,923 shares of the company's stock, valued at $8,812,522.29. The trade was a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.

About CF Industries

CF Industries Holdings, Inc, together with its subsidiaries, engages in the manufacture and sale of hydrogen and nitrogen products for energy, fertilizer, emissions abatement, and other industrial activities in North America, Europe, and internationally. It operates through Ammonia, Granular Urea, UAN, AN, and Other segments.