Bank of Nova Scotia Acquires 33,918 Shares of CF Industries Holdings, Inc. (NYSE:CF)

Bank of Nova Scotia grew its stake in shares of CF Industries Holdings, Inc. (NYSE:CF - Free Report) by 125.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,914 shares of the basic materials company's stock after purchasing an additional 33,918 shares during the period. Bank of Nova Scotia's holdings in CF Industries were worth $5,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC grew its stake in CF Industries by 6.6% in the fourth quarter. FMR LLC now owns 8,830,621 shares of the basic materials company's stock worth $753,429,000 after purchasing an additional 543,876 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CF Industries by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,792,339 shares of the basic materials company's stock worth $494,202,000 after buying an additional 225,109 shares during the period. Victory Capital Management Inc. increased its stake in shares of CF Industries by 7.1% in the 4th quarter. Victory Capital Management Inc. now owns 4,487,821 shares of the basic materials company's stock worth $382,901,000 after acquiring an additional 299,173 shares in the last quarter. Boston Partners lifted its position in CF Industries by 7.0% during the 4th quarter. Boston Partners now owns 3,316,616 shares of the basic materials company's stock valued at $283,044,000 after acquiring an additional 216,395 shares during the period. Finally, Norges Bank bought a new stake in CF Industries during the fourth quarter worth about $131,350,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

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CF Industries Stock Performance

Shares of CF traded up $1.03 during trading hours on Wednesday, hitting $74.15. The stock had a trading volume of 3,246,990 shares, compared to its average volume of 2,103,373. CF Industries Holdings, Inc. has a 12 month low of $67.34 and a 12 month high of $98.25. The stock has a fifty day moving average price of $77.35 and a 200 day moving average price of $84.24. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.08 and a quick ratio of 2.52. The firm has a market capitalization of $12.57 billion, a PE ratio of 10.95, a PEG ratio of 0.37 and a beta of 0.84.

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

CF Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.00 annualized dividend and a dividend yield of 2.70%. CF Industries's dividend payout ratio (DPR) is 29.54%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CF. Piper Sandler raised their target price on shares of CF Industries from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. BNP Paribas raised CF Industries to a "strong-buy" rating in a report on Wednesday, April 9th. Bank of America raised CF Industries from an "underperform" rating to a "neutral" rating and set a $84.00 price target for the company in a research report on Monday, February 24th. Scotiabank raised 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 report on Wednesday, April 9th. Finally, Barclays reduced their price objective on shares of CF Industries from $100.00 to $95.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, CF Industries currently has a consensus rating of "Hold" and an average price target of $88.47.

CF Industries 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.