Top 5 Value Stocks to Buy for 2024 (Picked by Joel Greenblatt)

3. CF Industries Holdings, Inc. (NYSE:CF)

Number of Hedge Fund Holders: 38
Price to Earnings Ratio: 7.42

Deerfield, Illinois-based CF Industries Holdings, Inc. (NYSE:CF) is one of the top value stocks to buy for 2024 picked by Joel Greenblatt for diversifying an investment portfolio into the basic materials sector. CF Industries Holdings, Inc. (NYSE:CF) manufactures and sells hydrogen and nitrogen products for energy fertilizer emissions and other industrial activity.

While CF Industries Holdings, Inc. (NYSE:CF) is down by about 7% for the year, it trades at a price-to-earnings multiple of 7.42, affirming undervaluation prospects considering the S&P trade at a P/E of 24. Amid the discounted valuation, Gotham Assets Management increased its stakes in CF Industries Holdings, Inc. (NYSE:CF) by 18% in Q3 2023 to $13.87 million.

As of September 2023, 38 of the 910 hedge funds part of Insider Monkey’s research had bought and owned CF Industries Holdings, Inc. (NYSE:CF)’s shares. Ken Griffin’s Citadel Investment Group is CF Industries Holdings, Inc. (NYSE:CF)’s biggest investor through a $141.43 million stake.

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