Atria Wealth Solutions Inc. has reduced its ownership in CF Industries Holdings, Inc. (NYSE: CF) by 30.6% during the second quarter of 2023, as indicated in its latest filing with the Securities and Exchange Commission. Following the sale of 1,040 shares, Atria now holds 2,360 shares of the basic materials company, valued at approximately $218,000.
Several other institutional investors have also modified their positions in CF Industries. For instance, Nations Financial Group Inc. IA ADV increased its stake by 1.3% during the first quarter, bringing its total to 8,727 shares worth $682,000 after acquiring an additional 116 shares. Similarly, Rowlandmiller & PARTNERS.ADV raised its holdings by 4.1% in the second quarter, now owning 3,325 shares valued at $306,000 after purchasing another 130 shares.
Farther Finance Advisors LLC also grew its stake in CF Industries by 7.7% during the same quarter, now holding 1,838 shares valued at $169,000 after acquiring 131 additional shares. Oppenheimer Asset Management Inc. and Alps Advisors Inc. increased their stakes by 2.0% and 3.5%, respectively, with Oppenheimer now owning 7,192 shares worth $562,000 and Alps holding 4,624 shares valued at $361,000. Notably, institutional investors and hedge funds collectively own 93.06% of CF Industries’ stock.
Stock Performance and Dividend Announcements
As of Thursday, the stock opened at $86.01. The company has a 50-day simple moving average of $86.66 and a 200-day simple moving average of $87.27. Over the past year, CF Industries has seen its shares fluctuate, with a low of $67.34 and a high of $104.45. Financial metrics reveal a current ratio of 3.22, a quick ratio of 2.84, and a debt-to-equity ratio of 0.38. The company’s market capitalization stands at $13.93 billion, with a price-to-earnings (P/E) ratio of 11.23 and a beta of 0.93.
CF Industries has also announced a quarterly dividend of $0.50, set to be paid on November 28, 2023. Shareholders recorded as of November 14, 2023, will receive this dividend, which translates to an annualized sum of $2.00 and a yield of 2.3%. The current dividend payout ratio (DPR) is 26.11%.
Analysts’ Ratings and Market Outlook
Recent assessments from equities research analysts provide a mixed outlook on CF Industries. UBS Group has downgraded its target price from $101.00 to $96.00, assigning a “neutral” rating. Zacks Research also lowered its recommendation from “strong-buy” to “hold,” while BNP Paribas made a similar downgrade. Conversely, JPMorgan Chase & Co. upgraded CF Industries from an “underweight” to a “neutral” rating, increasing its target price from $75.00 to $92.00.
Currently, three analysts recommend a Buy rating for the stock, while thirteen suggest holding, and one analyst has issued a Sell rating. Market data indicates a consensus rating of “Hold” with an average target price of $96.92.
CF Industries Holdings, Inc., along with its subsidiaries, is engaged in the manufacture and sale of hydrogen and nitrogen products for various industrial applications, including energy and fertilizer. The company operates across several segments, including Ammonia, Granular Urea, UAN, AN, and others.
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