CF Industries (CF) Debt Trading 0.7% Higher

An issue of CF Industries Holdings, Inc. (NYSE:CF) debt rose 0.7% against its face value during trading on Thursday. The high-yield debt issue has a 7.125% coupon and will mature on May 1, 2020. The debt is now trading at $105.50 and was trading at $105.17 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

Several research analysts have issued reports on the company. Citigroup increased their price target on CF Industries from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, October 11th. Morgan Stanley increased their price target on CF Industries from $37.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, October 10th. Cowen increased their price target on CF Industries from $60.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, October 4th. UBS Group increased their price target on CF Industries from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Finally, Stephens set a $55.00 price target on CF Industries and gave the stock a “hold” rating in a report on Monday, October 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. CF Industries has a consensus rating of “Hold” and an average price target of $49.78.

Shares of CF stock traded down $0.18 during trading hours on Friday, reaching $50.64. The company had a trading volume of 2,838,131 shares, compared to its average volume of 2,881,731. CF Industries Holdings, Inc. has a 12 month low of $33.50 and a 12 month high of $56.51. The company has a quick ratio of 2.26, a current ratio of 2.80 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $11.86 billion, a PE ratio of -202.56, a P/E/G ratio of 5.94 and a beta of 0.99.

CF Industries (NYSE:CF) last posted its earnings results on Wednesday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.18. CF Industries had a return on equity of 1.82% and a net margin of 13.94%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities research analysts anticipate that CF Industries Holdings, Inc. will post 1.43 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.37%. CF Industries’s dividend payout ratio is presently -480.00%.

CF Industries announced that its Board of Directors has approved a share buyback program on Wednesday, August 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

In related news, VP Adam L. Hall sold 20,256 shares of CF Industries stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $48.59, for a total transaction of $984,239.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen A. Furbacher sold 1,000 shares of CF Industries stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $51.43, for a total value of $51,430.00. Following the sale, the director now owns 53,690 shares in the company, valued at $2,761,276.70. The disclosure for this sale can be found here. Insiders have sold 40,131 shares of company stock worth $1,976,560 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in CF Industries by 56.4% during the second quarter. Janus Henderson Group PLC now owns 1,298,152 shares of the basic materials company’s stock worth $57,638,000 after acquiring an additional 468,073 shares during the period. Zurich Insurance Group Ltd FI increased its position in CF Industries by 160.4% in the second quarter. Zurich Insurance Group Ltd FI now owns 106,176 shares of the basic materials company’s stock worth $4,714,000 after buying an additional 65,407 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in CF Industries in the second quarter worth $824,000. Point72 Hong Kong Ltd purchased a new stake in CF Industries in the second quarter worth $127,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in CF Industries in the second quarter worth $619,000. Institutional investors and hedge funds own 99.09% of the company’s stock.

About CF Industries (NYSE:CF)

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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