Redmond Asset Management LLC Trims Position in CF Industries Holdings, Inc. (CF)
Redmond Asset Management LLC lowered its stake in shares of CF Industries Holdings, Inc. (NYSE:CF) by 74.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,000 shares of the basic materials company’s stock after selling 20,109 shares during the quarter. Redmond Asset Management LLC’s holdings in CF Industries were worth $311,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in CF Industries by 41.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,780,097 shares of the basic materials company’s stock valued at $180,352,000 after purchasing an additional 1,391,605 shares during the last quarter. Manning & Napier Group LLC lifted its holdings in CF Industries by 700.3% during the second quarter. Manning & Napier Group LLC now owns 2,961,421 shares of the basic materials company’s stock valued at $131,485,000 after purchasing an additional 2,591,386 shares during the last quarter. Platinum Investment Management Ltd. lifted its holdings in CF Industries by 53.4% during the first quarter. Platinum Investment Management Ltd. now owns 2,491,533 shares of the basic materials company’s stock valued at $94,005,000 after purchasing an additional 867,700 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of CF Industries by 12.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,472,545 shares of the basic materials company’s stock worth $55,560,000 after buying an additional 162,271 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of CF Industries by 137.4% in the first quarter. JPMorgan Chase & Co. now owns 1,466,777 shares of the basic materials company’s stock worth $55,342,000 after buying an additional 849,036 shares in the last quarter. Institutional investors own 98.16% of the company’s stock.
A number of brokerages have recently issued reports on CF. Zacks Investment Research downgraded shares of CF Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Stephens reissued a “hold” rating and issued a $53.00 price target on shares of CF Industries in a report on Friday, August 3rd. ValuEngine raised shares of CF Industries from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Scotiabank raised shares of CF Industries from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 28th. Finally, Royal Bank of Canada increased their price target on shares of CF Industries from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. CF Industries currently has an average rating of “Hold” and a consensus target price of $43.29.
CF Industries (NYSE:CF) last announced its earnings results on Wednesday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.18. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.21 billion. CF Industries had a net margin of 13.94% and a return on equity of 1.82%. CF Industries’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. analysts anticipate that CF Industries Holdings, Inc. will post 1.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Wednesday, August 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Tuesday, August 14th. CF Industries’s dividend payout ratio is currently -480.00%.
CF Industries announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, VP Rosemary L. O’brien sold 6,200 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $49.16, for a total value of $304,792.00. Following the sale, the vice president now directly owns 36,215 shares of the company’s stock, valued at $1,780,329.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bert A. Frost sold 10,675 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $50.31, for a total transaction of $537,059.25. The disclosure for this sale can be found here. Insiders sold 39,131 shares of company stock worth $1,925,130 over the last ninety days. 1.00% of the stock is currently owned by insiders.
About CF Industries
CF Industries Holdings, Inc manufactures and distributes nitrogen fertilizers and other nitrogen products worldwide. The company operates through Ammonia, Granular Urea, UAN, AN, and Other segments. Its principal nitrogen fertilizer products include ammonia, granular urea, urea ammonium nitrate, and ammonium nitrate.
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