State Treasurer State of Michigan cut its position in shares of CF Industries Holdings, Inc. (NYSE:CF) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 66,025 shares of the basic materials company’s stock after selling 3,500 shares during the period. State Treasurer State of Michigan’s holdings in CF Industries were worth $2,873,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in shares of CF Industries in the fourth quarter worth $34,000. Huntington National Bank acquired a new stake in shares of CF Industries in the third quarter worth $112,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of CF Industries in the fourth quarter worth $121,000. Almanack Investment Partners LLC. acquired a new stake in shares of CF Industries in the third quarter worth $145,000. Finally, First Mercantile Trust Co. acquired a new stake in shares of CF Industries in the third quarter worth $160,000. Institutional investors own 94.48% of the company’s stock.
A number of research firms recently issued reports on CF. ValuEngine cut CF Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 15th. Royal Bank of Canada reduced their price objective on CF Industries from $50.00 to $45.00 and set a “sector perform” rating for the company in a research report on Thursday, January 10th. BMO Capital Markets reissued a “buy” rating and set a $55.00 price objective on shares of CF Industries in a research report on Tuesday, January 8th. Bank of America raised CF Industries from an “underperform” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, October 31st. Finally, Zacks Investment Research raised CF Industries from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research report on Thursday, January 3rd. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $50.57.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Friday, February 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.86%. CF Industries’s dividend payout ratio is currently -480.00%.
About CF Industries
CF Industries Holdings, Inc manufactures and distributes nitrogen fertilizers and other nitrogen products worldwide. The company operates through Ammonia, Granular Urea, UAN, AN, and Other segments. Its principal nitrogen fertilizer products include ammonia, granular urea, urea ammonium nitrate, and ammonium nitrate.
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