CF Industries (CF) Sets New 12-Month High at $55.09
CF Industries Holdings, Inc. (NYSE:CF) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $55.09 and last traded at $54.50, with a volume of 117757 shares traded. The stock had previously closed at $53.11.
CF has been the topic of a number of research analyst reports. Scotiabank raised CF Industries from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 28th. Stephens reissued a “hold” rating and issued a $53.00 target price on shares of CF Industries in a research note on Friday, August 3rd. Zacks Investment Research cut CF Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Citigroup increased their target price on CF Industries from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Finally, HSBC raised CF Industries from a “hold” rating to a “buy” rating and set a $36.30 target price on the stock in a research note on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. CF Industries has a consensus rating of “Hold” and an average target price of $44.04.
The company has a market cap of $12.33 billion, a PE ratio of -216.40, a PEG ratio of 6.17 and a beta of 1.02. The company has a quick ratio of 2.26, a current ratio of 2.80 and a debt-to-equity ratio of 0.74.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. CF Industries’s dividend payout ratio (DPR) is currently -480.00%.
CF Industries declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
In related news, Director Stephen A. Furbacher sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $49.52, for a total value of $99,040.00. Following the sale, the director now directly owns 54,690 shares of the company’s stock, valued at $2,708,248.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen A. Furbacher sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $51.43, for a total value of $51,430.00. Following the completion of the sale, the director now directly owns 53,690 shares in the company, valued at $2,761,276.70. The disclosure for this sale can be found here. Insiders have sold 40,131 shares of company stock worth $1,976,560 over the last ninety days. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CF. Manning & Napier Group LLC grew its stake in shares of CF Industries by 700.3% in the second quarter. Manning & Napier Group LLC now owns 2,961,421 shares of the basic materials company’s stock worth $131,485,000 after purchasing an additional 2,591,386 shares during the last quarter. Slate Path Capital LP bought a new stake in shares of CF Industries in the first quarter worth about $38,396,000. Platinum Investment Management Ltd. grew its stake in shares of CF Industries by 53.4% in the first quarter. Platinum Investment Management Ltd. now owns 2,491,533 shares of the basic materials company’s stock worth $94,005,000 after purchasing an additional 867,700 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 849,036 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of CF Industries by 864.9% in the first quarter. Millennium Management LLC now owns 805,199 shares of the basic materials company’s stock worth $30,380,000 after purchasing an additional 721,746 shares during the last quarter. 99.07% of the stock is currently owned by institutional investors.
About CF Industries (NYSE:CF)
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.
Further Reading: Leveraged Buyout (LBO)
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