Panagora Asset Management Inc. trimmed its holdings in CF Industries Holdings, Inc. (NYSE:CF) by 1.5% in the third quarter, Holdings Channel.com reports. The fund owned 629,077 shares of the basic materials company’s stock after selling 9,648 shares during the period. Panagora Asset Management Inc.’s holdings in CF Industries were worth $35,115,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of CF. Vanguard Group Inc. increased its holdings in CF Industries by 2.3% in the second quarter. Vanguard Group Inc. now owns 25,303,835 shares of the basic materials company’s stock worth $1,301,883,000 after buying an additional 571,479 shares during the last quarter. BlackRock Inc. lifted its position in CF Industries by 1.8% in the second quarter. BlackRock Inc. now owns 20,670,115 shares of the basic materials company’s stock worth $1,063,478,000 after purchasing an additional 374,818 shares during the period. State Street Corp lifted its holdings in shares of CF Industries by 5.4% during the second quarter. State Street Corp now owns 9,968,796 shares of the basic materials company’s stock valued at $512,895,000 after acquiring an additional 510,427 shares during the period. FMR LLC lifted its holdings in shares of CF Industries by 40.7% during the second quarter. FMR LLC now owns 8,005,939 shares of the basic materials company’s stock valued at $411,906,000 after acquiring an additional 2,316,929 shares during the period. Finally, Invesco Ltd. increased its stake in shares of CF Industries by 3.0% in the second quarter. Invesco Ltd. now owns 7,309,096 shares of the basic materials company’s stock valued at $376,051,000 after buying an additional 215,396 shares in the last quarter. 90.46% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on CF Industries from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, October 1st. Royal Bank of Canada boosted their price target on CF Industries from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Friday, November 5th. Piper Sandler initiated coverage on CF Industries in a research report on Thursday, December 16th. They set an “overweight” rating and a $78.00 price target on the stock. Zacks Investment Research raised CF Industries from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a report on Wednesday, November 10th. Finally, BMO Capital Markets boosted their target price on CF Industries from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, December 10th. The analyst cites the company’s disclosure that its Q4 is tracking better thanks to the strong global nitrogen market conditions. Jackson adds that even assuming a moderation from record prices, CF still seems to be pace for free cash flow well in excess of $10 per share, which should accelerate buybacks and provide more dry powder for investments. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $67.10.
CF Industries (NYSE:CF) last posted its earnings results on Wednesday, November 3rd. The basic materials company reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.01). CF Industries had a return on equity of 12.08% and a net margin of 5.86%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.43 billion. On average, sell-side analysts predict that CF Industries Holdings, Inc. will post 5.74 EPS for the current year.
In other CF Industries news, VP Ashraf K. Malik sold 23,458 shares of the company’s stock in a transaction that occurred on Wednesday, December 22nd. The stock was sold at an average price of $70.00, for a total transaction of $1,642,060.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Richard A. Hoker sold 71,545 shares of the company’s stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $67.57, for a total value of $4,834,295.65. The disclosure for this sale can be found here. In the last three months, insiders sold 167,210 shares of company stock valued at $11,089,034. 2.00% of the stock is currently owned by corporate insiders.
About CF Industries
CF Industries Holdings, Inc engages in the manufacture and distribution of nitrogen fertilizer. The firm owns and operates nitrogen plants and serves agricultural and industrial customers through its distribution system. It operates through following segments: Ammonia, Granular Urea, UAN, AN, and Other.
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