Susan L. Menzel, Executive Vice President and Chief Administrative Officer at CF Industries Holdings, Inc. (NYSE:CF), recently sold a significant portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Menzel sold 3,500 shares of common stock on December 3, 2024. The transaction comes as CF Industries trades near its 52-week high of $94.46, with the stock showing strong momentum, up 18% year-to-date. The shares were sold at prices ranging from $92.00 to $94.00, totaling $325,000. Following the transactions, Menzel retains ownership of 62,768 shares in the company. These sales were executed under a pre-arranged Rule 10b5-1 trading plan, which Menzel adopted on March 15, 2024. According to InvestingPro, CF Industries maintains a GREAT financial health score, with management actively buying back shares and maintaining dividend payments for 20 consecutive years, currently yielding 2.19%. For deeper insights into CF Industries' insider trading patterns and 13 additional ProTips, visit InvestingPro.
In other recent news, CF Industries posted strong financial results for the third quarter and first nine months of 2024. The company reported an adjusted EBITDA of $511 million for Q3 and $1.7 billion for the first nine months, with net earnings of approximately $890 million and $276 million for the same periods respectively. The company maintained an ammonia utilization rate of 93% despite challenges posed by Hurricane Francine. Recent developments also include CF Industries' advancement of its carbon capture initiatives and preparation for a projected tightening in the nitrogen market.
Piper Sandler increased its price target for CF Industries to $79 from $77, maintaining an Underweight rating on the stock, while RBC (TSX:RY) Capital raised its price target to $100 from $95, maintaining an Outperform rating. Both firms cited the company's strong market dynamics and robust financial performance.
CF Industries returned $580 million to shareholders through share repurchases and dividends in 2024 and is focusing on strategic projects, such as a dehydration and compression unit for carbon capture and a green ammonia project. The company is also expecting an additional $100 million in cash from the 45Q tax credit through CO2 sequestration starting next year.
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