CF Industries Holdings, Inc. (NYSE:CF) Stake Reduced by Teachers Retirement System of The State of Kentucky

Key Points

• The Teachers Retirement System of The State of Kentucky drastically reduced its stake in CF Industries by 83.9%, ending the first quarter with only 13,355 shares worth approximately $1,043,000.
• CF Industries' quarterly earnings exceeded expectations, reporting $1.85 EPS against a consensus estimate of $1.47, with revenue of $1.66 billion.
• The company announced a $2.00 billion stock buyback program and a quarterly dividend of $0.50 per share, reflecting confidence in its perceived undervaluation.

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of CF Industries Holdings, Inc. (NYSE:CF - Free Report) by 83.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,355 shares of the basic materials company's stock after selling 69,778 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in CF Industries were worth $1,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CF. Curat Global LLC purchased a new stake in shares of CF Industries during the first quarter valued at approximately $25,000. Mizuho Bank Ltd. purchased a new stake in shares of CF Industries during the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC raised its stake 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 valued at $30,000 after purchasing an additional 206 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of CF Industries during the fourth quarter valued at approximately $34,000. Finally, Grove Bank & Trust raised its stake in shares of CF Industries by 118.5% during 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 during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

CF Industries Stock Performance

Shares of CF traded up $0.66 during midday trading on Tuesday, hitting $93.19. 364,747 shares of the stock traded hands, compared to its average volume of 2,716,926. The firm has a market capitalization of $15.80 billion, a PE ratio of 12.29 and a beta of 0.96. The business's 50 day moving average price is $93.78 and its two-hundred day moving average price is $85.68. CF Industries Holdings, Inc. has a 1-year low of $67.34 and a 1-year high of $104.45. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.22 and a current ratio of 2.59.

CF Industries (NYSE:CF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.38. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.53 billion. CF Industries had a net margin of 21.80% and a return on equity of 17.39%. The company's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. Equities research analysts predict that CF Industries Holdings, Inc. will post 5.83 EPS for the current fiscal year.

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

CF Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, August 15th. CF Industries's payout ratio is currently 26.35%.

Insiders Place Their Bets

In other CF Industries news, EVP Susan L. Menzel sold 10,000 shares of the business'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 directly owned 87,923 shares in the company, valued at approximately $8,812,522.29. The trade was a 10.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CF has been the topic of a number of analyst reports. Scotiabank upgraded shares of CF Industries from a "sector underperform" rating to a "sector perform" rating and set a $81.00 price objective on the stock in a research note on Wednesday, April 9th. UBS Group lifted their price target on shares of CF Industries from $82.00 to $103.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Barclays lifted their price target on shares of CF Industries from $91.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. BNP Paribas upgraded shares of CF Industries to a "strong-buy" rating in a research note on Wednesday, April 9th. Finally, Royal Bank Of Canada set a $100.00 price target on shares of CF Industries and gave the stock a "sector perform" rating in a research note on Monday, July 14th. Twelve 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 company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $95.71.

CF Industries Company Profile

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.