Mackenzie Financial Corp Purchases 3,097 Shares of CF Industries Holdings, Inc. (NYSE:CF)

Key Points

• Mackenzie Financial Corp increased its holdings in CF Industries by 42.4% during the first quarter, owning 10,408 shares valued at approximately $813,000.
• CF Industries recently announced a $2 billion share buyback plan, allowing the company to repurchase up to 14.7% of its outstanding shares, indicative of management's belief that the stock is undervalued.
• The company declared a quarterly dividend of $0.50, with an annual dividend yield of 2.2%, payable on August 29th to shareholders of record on August 15th.

Mackenzie Financial Corp lifted its stake in CF Industries Holdings, Inc. (NYSE:CF - Free Report) by 42.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,408 shares of the basic materials company's stock after purchasing an additional 3,097 shares during the quarter. Mackenzie Financial Corp's holdings in CF Industries were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Curat Global LLC acquired a new stake in shares of CF Industries during the 1st quarter valued at $25,000. Golden State Wealth Management LLC raised its holdings in shares of CF Industries by 119.8% during the first quarter. Golden State Wealth Management LLC now owns 378 shares of the basic materials company's stock worth $30,000 after acquiring an additional 206 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in CF Industries during the fourth quarter valued at $34,000. Grove Bank & Trust grew its stake in CF Industries by 118.5% in the first quarter. Grove Bank & Trust now owns 542 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 294 shares in the last quarter. Finally, Private Trust Co. NA increased its position in CF Industries by 62.2% in the 1st quarter. Private Trust Co. NA now owns 720 shares of the basic materials company's stock worth $56,000 after purchasing an additional 276 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

CF Industries Stock Performance

NYSE CF traded down $2.21 during midday trading on Friday, hitting $80.68. The company had a trading volume of 5,730,841 shares, compared to its average volume of 2,438,639. The company has a quick ratio of 2.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.38. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 10.53 and a beta of 0.94. The firm has a fifty day simple moving average of $93.88 and a two-hundred day simple moving average of $85.47. CF Industries Holdings, Inc. has a fifty-two week low of $67.34 and a fifty-two week high of $104.45.

CF Industries (NYSE:CF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.02. The company had revenue of $1.89 billion for 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 business's quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the business posted $2.30 EPS. Equities analysts forecast that CF Industries Holdings, Inc. will post 5.83 earnings per share for the current fiscal year.

CF Industries announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 7th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 14.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

CF Industries Announces Dividend

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

Insider Buying and Selling at CF Industries

In other news, EVP Susan L. Menzel sold 10,000 shares of CF Industries stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.23, for a total transaction of $1,002,300.00. Following the sale, the executive vice president directly owned 87,923 shares in the company, valued at approximately $8,812,522.29. The trade was a 10.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

CF has been the subject of several research reports. JPMorgan Chase & Co. upgraded CF Industries from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $75.00 to $92.00 in a report on Tuesday, July 29th. Wall Street Zen cut shares of CF Industries from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley set a $95.00 price target on shares of CF Industries and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Barclays raised their price target on shares of CF Industries from $91.00 to $95.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Finally, Wells Fargo & Company raised their price target on shares of CF Industries from $105.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Thirteen investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CF Industries currently has a consensus rating of "Hold" and an average price target of $95.57.

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.