CF Industries Holdings, Inc. (NYSE:CF) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in shares of CF Industries Holdings, Inc. (NYSE:CF) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,254 shares of the basic materials company’s stock after selling 5,300 shares during the quarter. State of Michigan Retirement System’s holdings in CF Industries were worth $4,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of CF Industries during the fourth quarter valued at about $9,480,000. Cerity Partners LLC purchased a new stake in CF Industries during the 4th quarter worth approximately $219,000. New York State Common Retirement Fund raised its position in shares of CF Industries by 19.0% in the 4th quarter. New York State Common Retirement Fund now owns 178,720 shares of the basic materials company’s stock valued at $14,208,000 after purchasing an additional 28,579 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of CF Industries by 11.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,534 shares of the basic materials company’s stock valued at $440,000 after buying an additional 574 shares during the last quarter. Finally, Truist Financial Corp grew its position in shares of CF Industries by 173.6% during the fourth quarter. Truist Financial Corp now owns 20,757 shares of the basic materials company’s stock worth $1,650,000 after buying an additional 13,171 shares in 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 $0.21 during trading on Tuesday, hitting $81.43. The company’s stock had a trading volume of 57,831 shares, compared to its average volume of 2,203,174. The firm has a market cap of $14.88 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 2.44 and a beta of 0.95. CF Industries Holdings, Inc. has a 52 week low of $69.13 and a 52 week high of $87.90. The firm has a 50 day moving average price of $74.76 and a 200 day moving average price of $77.78. The company has a quick ratio of 3.55, a current ratio of 3.94 and a debt-to-equity ratio of 0.37.

CF Industries (NYSE:CF) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.50. CF Industries had a net margin of 19.03% and a return on equity of 14.08%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $2.70 EPS. The firm’s revenue was down 11.4% on a year-over-year basis. Equities research analysts forecast that CF Industries Holdings, Inc. will post 5.18 earnings per share for the current fiscal year.

CF Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%. CF Industries’s payout ratio is 33.22%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CF shares. Barclays upgraded shares of CF Industries from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $80.00 to $90.00 in a research note on Friday, August 16th. Bank of America lifted their target price on CF Industries from $76.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Piper Sandler reduced their price objective on CF Industries from $82.00 to $75.00 and set an “underweight” rating for the company in a research report on Tuesday, May 7th. Wells Fargo & Company dropped their target price on CF Industries from $87.00 to $83.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 16th. Finally, UBS Group boosted their price target on shares of CF Industries from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, CF Industries has a consensus rating of “Hold” and a consensus target price of $86.91.

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.