Price T Rowe Associates Inc. MD Sells 2,514,341 Shares of CF Industries Holdings, Inc. $CF

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in CF Industries Holdings by 24.0%, selling 2,514,341 shares, and now owns approximately 4.70% of the company.
• CF Industries recently reported quarterly earnings of $2.37 per share, exceeding analyst expectations and showing a 20.2% year-over-year revenue growth.
• The company has declared a quarterly dividend of $0.50 per share, with a payout ratio currently at 26.11% and a yield of 2.3%.

Price T Rowe Associates Inc. MD lessened its stake in CF Industries Holdings, Inc. (NYSE:CF - Free Report) by 24.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,971,693 shares of the basic materials company's stock after selling 2,514,341 shares during the quarter. Price T Rowe Associates Inc. MD owned 4.70% of CF Industries worth $622,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CF. Curat Global LLC acquired a new position in CF Industries during the first quarter worth $25,000. Zions Bancorporation National Association UT acquired a new position in CF Industries during the first quarter worth $27,000. Golden State Wealth Management LLC boosted its holdings in 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 purchasing an additional 206 shares during the last quarter. TCTC Holdings LLC boosted its holdings in CF Industries by 114.1% during the first quarter. TCTC Holdings LLC now owns 379 shares of the basic materials company's stock worth $30,000 after purchasing an additional 202 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in CF Industries during the fourth quarter worth $34,000. Institutional investors and hedge funds own 93.06% of the company's stock.

Insider Buying and Selling

In related news, EVP Susan L. Menzel sold 10,000 shares of the firm's 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 transaction, the executive vice president directly owned 87,923 shares of the company's stock, valued at approximately $8,812,522.29. This trade represents a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their target price on shares of CF Industries from $108.00 to $101.00 and set an "overweight" rating for the company in a report on Monday, August 11th. JPMorgan Chase & Co. upgraded shares of CF Industries from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $75.00 to $92.00 in a report on Tuesday, July 29th. Bank of America restated an "underperform" rating and set a $82.00 target price (down previously from $93.00) on shares of CF Industries in a report on Thursday, August 14th. Morgan Stanley set a $95.00 target price on shares of CF Industries and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Finally, Barclays upgraded shares of CF Industries from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $95.00 to $100.00 in a research note on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CF Industries currently has an average rating of "Hold" and an average price target of $95.00.

CF Industries Stock Performance

Shares of CF traded down $0.23 during trading hours on Wednesday, hitting $86.40. The company had a trading volume of 1,969,152 shares, compared to its average volume of 2,745,597. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 11.28 and a beta of 0.94. The business has a fifty day moving average of $91.55 and a 200-day moving average of $84.99. CF Industries Holdings, Inc. has a 12 month low of $67.34 and a 12 month high of $104.45. The company has a quick ratio of 2.84, a current ratio of 3.22 and a debt-to-equity ratio of 0.38.

CF Industries (NYSE:CF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $2.37 earnings per share for the quarter, beating 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 company's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 earnings per share. Equities analysts anticipate that CF Industries Holdings, Inc. will post 5.83 EPS for the current fiscal year.

CF Industries declared that its board has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

CF Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 15th. CF Industries's dividend payout ratio (DPR) is currently 26.11%.

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.