CVR Partners (NYSE:UAN) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of CVR Partners (NYSE:UAN) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

CVR Partners Stock Performance

NYSE:UAN opened at $79.78 on Friday. CVR Partners has a twelve month low of $61.62 and a twelve month high of $88.94. The company has a market cap of $1.37 billion, a P/E ratio of 13.85 and a beta of 1.35. The company has a current ratio of 2.10, a quick ratio of 1.44 and a debt-to-equity ratio of 1.94. The company’s 50-day moving average price is $78.62 and its 200-day moving average price is $73.58.

CVR Partners (NYSE:UAN) last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter. CVR Partners had a return on equity of 20.61% and a net margin of 11.59%. The business had revenue of $139.56 million during the quarter.

CVR Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, March 3rd will be issued a $1.75 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.00 dividend on an annualized basis and a dividend yield of 8.77%. This is a positive change from CVR Partners’s previous quarterly dividend of $1.19. CVR Partners’s dividend payout ratio is currently 82.64%.

Insiders Place Their Bets

In other CVR Partners news, major shareholder Carl C. Icahn bought 6,202 shares of the business’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $74.22 per share, with a total value of $460,312.44. Following the completion of the purchase, the insider now directly owns 162,457 shares in the company, valued at $12,057,558.54. The trade was a 3.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 23,855 shares of company stock valued at $1,777,923 over the last ninety days.

Hedge Funds Weigh In On CVR Partners

A number of hedge funds have recently modified their holdings of UAN. Oxbow Advisors LLC raised its holdings in CVR Partners by 10.5% in the 3rd quarter. Oxbow Advisors LLC now owns 3,100 shares of the basic materials company’s stock valued at $208,000 after buying an additional 295 shares during the period. Apollon Wealth Management LLC raised its stake in shares of CVR Partners by 18.4% in the 4th quarter. Apollon Wealth Management LLC now owns 4,295 shares of the basic materials company’s stock valued at $326,000 after acquiring an additional 667 shares during the period. McIlrath & Eck LLC acquired a new position in shares of CVR Partners in the 3rd quarter worth approximately $51,000. GSA Capital Partners LLP lifted its holdings in shares of CVR Partners by 12.8% in the 3rd quarter. GSA Capital Partners LLP now owns 10,458 shares of the basic materials company’s stock worth $702,000 after acquiring an additional 1,187 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in CVR Partners by 13.4% in the 4th quarter. Bank of America Corp DE now owns 12,833 shares of the basic materials company’s stock valued at $975,000 after purchasing an additional 1,520 shares during the last quarter. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

About CVR Partners

CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer products in the United States. The company offers ammonia products for agricultural and industrial customers; and urea ammonium nitrate products to agricultural customers, as well as retailers and distributors.