Allianz Asset Management GmbH has significantly increased its stake in CF Industries Holdings, Inc. by 72.1% during the second quarter of the year. The asset manager now owns 1,728,927 shares of the North American basic materials company’s stock, following the acquisition of an additional 724,329 shares during this period. According to its most recent filing with the Securities and Exchange Commission, Allianz’s holdings in CF Industries were valued at approximately $159.06 million.
Several other institutional investors have also adjusted their positions in CF Industries recently. Notably, Nations Financial Group Inc. IA ADV increased its stake by 1.3% in the first quarter, now owning 8,727 shares worth $682,000 after acquiring 116 additional shares. Similarly, Rowlandmiller & PARTNERS.ADV expanded its holdings by 4.1% during the second quarter, owning 3,325 shares valued at $306,000.
Farther Finance Advisors LLC raised its stake by 7.7% in the same quarter, bringing its total to 1,838 shares worth $169,000. Oppenheimer Asset Management Inc. also lifted its position by 2.0%, now holding 7,192 shares valued at $562,000. Finally, Alps Advisors Inc. increased its holdings by 3.5% during the first quarter, now owning 4,624 shares worth $361,000.
As it stands, institutional investors and hedge funds own approximately 93.06% of CF Industries’ stock.
Performance and Dividends
As of Thursday, shares of CF Industries opened at $85.44. The company’s performance indicators show a 50-day simple moving average of $86.58 and a 200-day simple moving average of $87.06. CF Industries maintains a debt-to-equity ratio of 0.38 and a current ratio of 3.22, reflecting a strong balance sheet. The company has a market capitalization of $13.84 billion and a price-to-earnings ratio of 11.15.
In addition, CF Industries has announced a quarterly dividend of $0.50 per share, set for distribution on November 28, 2023. Investors on record as of November 14, 2023, will receive this dividend, marking an annualized payout of $2.00 and a yield of 2.3%. The company currently has a payout ratio of 26.11%.
Analyst Ratings and Market Outlook
Several brokerage firms have recently provided insights on CF Industries. The Royal Bank of Canada set a target price of $100.00 and rated the company as “sector perform” in a report on July 14, 2023. HSBC revised its target price from $104.00 to $95.00 and maintained a “hold” rating in a report dated September 15, 2023.
Weiss Ratings reaffirmed a “hold (c+)” rating, while Morgan Stanley assigned a price objective of $95.00 with an “equal weight” rating in a report on June 26, 2023. Zacks Research downgraded the stock from a “strong-buy” to a “hold” rating in a report issued on September 3, 2023.
Currently, three equity research analysts have rated CF Industries with a “buy” rating, fourteen have issued a “hold” rating, and one has given a “sell” rating. According to data from MarketBeat, CF Industries holds an average rating of “hold” with a consensus target price of $95.21.
CF Industries Holdings, Inc., along with its subsidiaries, engages in the manufacture and sale of hydrogen and nitrogen products for various applications, including energy, fertilizer, emissions abatement, and other industrial activities across North America, Europe, and beyond. The company operates through multiple segments, including Ammonia, Granular Urea, UAN, AN, and others.
