Corebridge Financial Inc. Cuts Holdings in CF Industries Holdings, Inc. (NYSE:CF)

Corebridge Financial Inc. lessened its stake in CF Industries Holdings, Inc. (NYSE:CF) by 9.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 41,201 shares of the basic materials company’s stock after selling 4,240 shares during the quarter. Corebridge Financial Inc.’s holdings in CF Industries were worth $3,515,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cerity Partners LLC increased its holdings in CF Industries by 16.8% in the third quarter. Cerity Partners LLC now owns 10,051 shares of the basic materials company’s stock valued at $862,000 after buying an additional 1,449 shares during the last quarter. Townsquare Capital LLC purchased a new position in shares of CF Industries in the 3rd quarter valued at about $373,000. Public Sector Pension Investment Board lifted its stake in CF Industries by 17.1% during the third quarter. Public Sector Pension Investment Board now owns 7,514 shares of the basic materials company’s stock worth $645,000 after purchasing an additional 1,100 shares during the last quarter. Erste Asset Management GmbH acquired a new position in CF Industries in the third quarter valued at approximately $514,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in CF Industries in the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CF shares. Scotiabank cut their target price on shares of CF Industries from $88.00 to $81.00 and set a “sector underperform” rating on the stock in a report on Monday, February 24th. Barclays dropped their price target on CF Industries from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group began coverage on CF Industries in a research report on Thursday, March 13th. They set a “neutral” rating and a $86.00 price objective for the company. Bank of America upgraded CF Industries from an “underperform” rating to a “neutral” rating and set a $84.00 price target for the company in a research note on Monday, February 24th. Finally, Royal Bank of Canada lowered their price objective on shares of CF Industries from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $89.86.

CF Industries Price Performance

CF stock opened at $78.11 on Tuesday. The company has a market cap of $13.24 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 0.37 and a beta of 0.99. The company has a current ratio of 3.08, a quick ratio of 2.52 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average of $82.11 and a 200-day moving average of $85.15. CF Industries Holdings, Inc. has a 12-month low of $69.13 and a 12-month high of $98.25.

CF Industries (NYSE:CF) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. CF Industries had a return on equity of 15.50% and a net margin of 20.52%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.50 billion. As a group, equities analysts expect that CF Industries Holdings, Inc. will post 5.83 EPS for the current fiscal year.

CF Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.00 annualized dividend and a yield of 2.56%. CF Industries’s dividend payout ratio (DPR) is currently 29.54%.

Insider Buying and Selling at CF Industries

In other CF Industries news, VP Ashraf K. Malik sold 8,889 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $95.00, for a total value of $844,455.00. Following the transaction, the vice president now directly owns 15,871 shares in the company, valued at approximately $1,507,745. This represents a 35.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Susan L. Menzel sold 1,500 shares of CF Industries stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $96.00, for a total transaction of $144,000.00. Following the sale, the executive vice president now owns 92,486 shares of the company’s stock, valued at approximately $8,878,656. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,889 shares of company stock worth $1,130,955. 0.42% of the stock is owned by corporate insiders.

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.