Bank of America Corp DE Acquires 158,119 Shares of CF Industries Holdings, Inc. $CF

Key Points

• Bank of America increased its CF Industries stake by 8.4% in the first quarter, buying 158,119 shares to hold 2.05 million shares worth approximately $266 million. Institutional investors collectively own 93.06% of the company.
• Analyst sentiment remains mixed, with CF Industries carrying a consensus “Hold” rating and an average price target of $116.69. Several brokerages recently lowered their targets, although one firm upgraded the stock to “strong buy.”
• CF Industries raised its quarterly dividend to $0.60 per share, or $2.40 annually, implying a 2.0% yield. Shares opened at $118.16, with the stock down 5.6% and trading between a $75.42 12-month low and $141.96 high.

Bank of America Corp DE increased its stake in CF Industries Holdings, Inc. (NYSE:CF - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,048,671 shares of the basic materials company's stock after purchasing an additional 158,119 shares during the period. Bank of America Corp DE owned approximately 1.33% of CF Industries worth $265,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of CF Industries by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,458,907 shares of the basic materials company's stock valued at $579,062,000 after buying an additional 146,682 shares in the last quarter. Boston Partners increased its position in shares of CF Industries by 15.3% during the 3rd quarter. Boston Partners now owns 3,587,999 shares of the basic materials company's stock valued at $321,852,000 after purchasing an additional 476,769 shares during the last quarter. Invesco Ltd. increased its position in shares of CF Industries by 12.0% during the 4th quarter. Invesco Ltd. now owns 3,570,249 shares of the basic materials company's stock valued at $276,123,000 after purchasing an additional 381,716 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of CF Industries by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,287,256 shares of the basic materials company's stock valued at $302,428,000 after buying an additional 11,792 shares in the last quarter. Finally, Northern Trust Corp lifted its position in CF Industries by 5.5% in the 4th quarter. Northern Trust Corp now owns 3,147,611 shares of the basic materials company's stock worth $243,436,000 after buying an additional 163,320 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CF. UBS Group reduced their price target on shares of CF Industries from $140.00 to $130.00 in a research report on Friday, May 8th. Freedom Capital raised shares of CF Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. Royal Bank Of Canada cut their price objective on shares of CF Industries from $125.00 to $115.00 and set a "sector perform" rating for the company in a research note on Friday, July 17th. Bank of America lifted their target price on shares of CF Industries from $103.00 to $106.00 in a research report on Thursday, May 14th. Finally, HSBC lowered their price target on shares of CF Industries from $130.00 to $121.00 in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $116.69.

CF Industries Trading Down 5.6%

Shares of CF opened at $118.16 on Tuesday. The stock has a market capitalization of $18.15 billion, a P/E ratio of 10.62 and a beta of 0.39. The company has a quick ratio of 3.15, a current ratio of 3.54 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $114.20 and a two-hundred day simple moving average of $112.95. CF Industries Holdings, Inc. has a twelve month low of $75.42 and a twelve month high of $141.96.

CF Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.0%. This is a positive change from CF Industries's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 14th. CF Industries's payout ratio is currently 17.97%.

CF Industries Profile

CF Industries Holdings, Inc is a leading global manufacturer of hydrogen and nitrogen products for agricultural and industrial customers. The company specializes in the production of ammonia, granular urea, urea ammonium nitrate (UAN), nitric acid and ammonium nitrate, which serve as key inputs for fertilizer blends, industrial chemicals and other downstream applications.

Headquartered in Deerfield, Illinois, CF Industries operates production facilities and distribution terminals across North America and the United Kingdom.

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