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Susan L. Menzel, Executive Vice President and Chief Administrative Officer of CF Industries Holdings, Inc. (NYSE:CF), a company currently valued at $16.5 billion and trading near its 52-week high, has sold 1,500 shares of common stock. The stock has shown remarkable strength, gaining over 9% in the past week, according to InvestingPro data. The shares were sold at a price of $95 each, amounting to a total transaction value of $142,500. Following this sale, Menzel retains ownership of 93,986 shares in the company. The transaction was conducted under a Rule 10b5-1 trading plan, which Menzel adopted on March 15, 2024. While this insider sale occurred, InvestingPro analysis shows the company maintains a GREAT financial health score, with management actively pursuing share buybacks. Discover 15+ additional exclusive insights and detailed financial metrics with InvestingPro's comprehensive research report.
In other recent news, CF Industries experienced several notable developments. Piper Sandler upgraded CF Industries' stock rating from Underweight to Overweight, citing increasing grain prices and their impact on fertilizer demand. Concurrently, CF Industries' Executive Vice President, Susan L. Menzel, was granted a significant retention award of 28,637 restricted stock units, underscoring the company's commitment to retaining key personnel.
Piper Sandler also increased CF Industries' price target to $79 from $77, maintaining an Underweight rating on the stock. This revision followed the company's recent publication of third-quarter earnings and fourth-quarter guidance. RBC Capital also adjusted its outlook on CF Industries, increasing the price target to $100 from the previous $95, while maintaining an Outperform rating on the stock.
In its earnings call for the first nine months and third quarter of 2024, CF Industries reported robust financial results. The company's adjusted EBITDA stands at $511 million for Q3 and $1.7 billion for the first nine months. CF Industries also highlighted its ongoing carbon capture initiatives and preparation for an expected tightening in the nitrogen market. These are recent developments in the company's operations and financial performance.
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