L2 Asset Management LLC Buys Shares of 96,957 CF Industries Holdings, Inc. $CF

Key Points

• L2 Asset Management initiated a 96,957-share position in CF Industries worth approximately $10.5 million, representing 1.1% of its portfolio. Institutional investors collectively own 93.06% of the company.
• CF Industries reported quarterly earnings of $4.73 per share and revenue of $2.22 billion, missing analyst estimates, though revenue increased 17.6% year over year.
• The company raised its quarterly dividend to $0.60 per share, or $2.40 annually, producing a 1.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $116.56, below the stock’s stated $129.31 price.

L2 Asset Management LLC purchased a new stake in shares of CF Industries Holdings, Inc. (NYSE:CF - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 96,957 shares of the basic materials company's stock, valued at approximately $10,497,000. CF Industries comprises about 1.1% of L2 Asset Management LLC's portfolio, making the stock its 17th biggest holding. L2 Asset Management LLC owned about 0.06% of CF Industries as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of CF Industries by 3.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,360 shares of the basic materials company's stock valued at $306,000 after purchasing an additional 84 shares during the last quarter. Eley Financial Management Inc boosted its holdings in CF Industries by 0.6% in the first quarter. Eley Financial Management Inc now owns 13,764 shares of the basic materials company's stock worth $1,787,000 after purchasing an additional 87 shares during the last quarter. Personal CFO Solutions LLC grew its position in CF Industries by 1.1% in the 1st quarter. Personal CFO Solutions LLC now owns 8,176 shares of the basic materials company's stock worth $1,062,000 after purchasing an additional 89 shares during the period. EverSource Wealth Advisors LLC grew its position in CF Industries by 6.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,496 shares of the basic materials company's stock worth $194,000 after purchasing an additional 97 shares during the period. Finally, Altshuler Shaham Ltd raised its stake in CF Industries by 36.6% during the 1st quarter. Altshuler Shaham Ltd now owns 418 shares of the basic materials company's stock valued at $54,000 after buying an additional 112 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

CF Industries Stock Down 0.2%

Shares of CF stock opened at $129.31 on Tuesday. CF Industries Holdings, Inc. has a 12 month low of $75.42 and a 12 month high of $141.96. The stock has a market cap of $19.57 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.26 and a beta of 0.39. The company has a current ratio of 4.86, a quick ratio of 4.32 and a debt-to-equity ratio of 0.36. The company has a 50 day simple moving average of $116.44 and a two-hundred day simple moving average of $116.11.

CF Industries (NYSE:CF - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $5.63 by ($0.90). The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.45 billion. CF Industries had a return on equity of 24.41% and a net margin of 27.12%.The firm's revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.37 earnings per share. On average, research analysts expect that CF Industries Holdings, Inc. will post 13.7 earnings per share for the current year.

CF Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. This is an increase from CF Industries's previous quarterly dividend of $0.50. CF Industries's payout ratio is 17.79%.

Analyst Upgrades and Downgrades

CF has been the topic of several research analyst reports. Weiss Ratings cut CF Industries from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday. Scotiabank lifted their price objective on CF Industries from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. BMO Capital Markets reduced their price objective on CF Industries from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Tuesday, June 30th. Morgan Stanley lowered their target price on CF Industries from $135.00 to $115.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 7th. Finally, BNP Paribas Exane dropped their target price on CF Industries from $140.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $116.56.

CF Industries Company 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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