L2 Asset Management LLC Acquires New Position in CF Industries Holdings, Inc. $CF

L2 Asset Management LLC bought a new position in CF Industries Holdings, Inc. (NYSE:CF) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 96,957 shares of the basic materials company’s stock, valued at approximately $10,497,000. CF Industries makes up about 1.1% of L2 Asset Management LLC’s portfolio, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CF. Himension Capital Singapore PTE. LTD. purchased a new position in CF Industries during the first quarter valued at approximately $25,000. Virtus Advisers LLC bought a new position in shares of CF Industries in the second quarter worth approximately $25,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of CF Industries in the second quarter worth $29,000. Hantz Financial Services Inc. increased its stake in shares of CF Industries by 46.3% in the fourth quarter. Hantz Financial Services Inc. now owns 493 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 156 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of CF Industries during the 2nd quarter valued at $44,000. Institutional investors own 93.06% of the company’s stock.

CF Industries Price Performance

Shares of NYSE:CF opened at $129.31 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.32 and a current ratio of 4.86. The firm has a fifty day moving average price of $116.44 and a 200 day moving average price of $116.11. CF Industries Holdings, Inc. has a fifty-two week low of $75.42 and a fifty-two week high of $141.96. The firm has a market cap of $19.57 billion, a price-to-earnings ratio of 9.59, a P/E/G ratio of 0.26 and a beta of 0.39.

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

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 given a dividend of $0.60 per share. The ex-dividend date is Friday, August 14th. This is a positive change from CF Industries’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. CF Industries’s dividend payout ratio (DPR) is 17.79%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Zacks Research downgraded shares of CF Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Scotiabank raised their price target on CF Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 10th. JPMorgan Chase & Co. boosted their price objective on CF Industries from $94.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Berenberg Bank upped their price objective on CF Industries from $86.00 to $106.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Finally, Barclays increased their target price on CF Industries from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $116.56.

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.