Geode Capital Management LLC Cuts Stake in CF Industries Holdings, Inc. $CF

Key Points

• Geode Capital Management reduced its CF Industries stake by 2.2% in the fourth quarter, though it still held 4.29 million shares worth about $330.4 million. Institutional ownership remains extremely high, with hedge funds and other institutions owning 93.06% of the company.
• CF Industries beat quarterly earnings expectations, reporting $3.98 EPS versus the $2.63 consensus and revenue of $1.99 billion, up 19.4% year over year. Analysts now expect full-year EPS of 15.12.
• The company recently paid a quarterly dividend of $0.50 per share, or $2.00 annualized, for a yield of 1.8%. Insiders also sold shares over the past three months, while analysts maintain a consensus rating of Hold with an average price target of $117.69.

Geode Capital Management LLC lowered its position in shares of CF Industries Holdings, Inc. (NYSE:CF - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,287,979 shares of the basic materials company's stock after selling 98,029 shares during the quarter. Geode Capital Management LLC owned 2.75% of CF Industries worth $330,368,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CF. Worldquant Millennium Advisors LLC purchased a new position in shares of CF Industries in the 2nd quarter valued at about $96,560,000. Caisse de depot et placement du Quebec increased its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CF Industries by 22.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,133,709 shares of the basic materials company's stock valued at $281,104,000 after purchasing an additional 568,710 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of CF Industries by 115.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,019,926 shares of the basic materials company's stock valued at $78,881,000 after purchasing an additional 545,668 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of CF Industries by 106.3% in the 3rd quarter. LSV Asset Management now owns 1,053,802 shares of the basic materials company's stock valued at $94,526,000 after purchasing an additional 543,070 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

CF Industries Price Performance

CF Industries stock opened at $113.41 on Tuesday. CF Industries Holdings, Inc. has a 12-month low of $75.42 and a 12-month high of $141.96. The stock has a market capitalization of $17.42 billion, a P/E ratio of 10.19 and a beta of 0.38. The firm's 50-day moving average is $123.73 and its two-hundred day moving average is $101.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.54 and a quick ratio of 3.15.

CF Industries (NYSE:CF - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $1.35. CF Industries had a net margin of 23.73% and a return on equity of 20.93%. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the company earned $1.85 EPS. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. Equities analysts predict that CF Industries Holdings, Inc. will post 15.12 earnings per share for the current year.

CF Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 15th. CF Industries's dividend payout ratio (DPR) is currently 17.97%.

Insider Activity at CF Industries

In related news, VP Richard A. Hoker sold 3,499 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $125.38, for a total value of $438,704.62. Following the sale, the vice president directly owned 31,036 shares of the company's stock, valued at approximately $3,891,293.68. This trade represents a 10.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael Patrick Mcgrane sold 3,666 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $116.50, for a total transaction of $427,089.00. Following the completion of the sale, the senior vice president directly owned 19,161 shares in the company, valued at $2,232,256.50. This represents a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 72,513 shares of company stock worth $8,952,781 over the last three months. Company insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CF. BNP Paribas Exane increased their price target on shares of CF Industries from $95.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, March 25th. BMO Capital Markets increased their price target on shares of CF Industries from $115.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, March 18th. UBS Group cut their price target on shares of CF Industries from $140.00 to $130.00 in a report on Friday, May 8th. Bank of America increased their price target on shares of CF Industries from $103.00 to $106.00 in a report on Thursday, May 14th. Finally, Freedom Capital upgraded shares of CF Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $117.69.

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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