StockNews.com downgraded shares of CVR Partners (NYSE:UAN - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.
CVR Partners Trading Down 1.4 %
UAN stock traded down $1.05 during midday trading on Wednesday, reaching $74.07. 30,801 shares of the company traded hands, compared to its average volume of 35,733. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 14.90 and a beta of 1.35. CVR Partners has a 52-week low of $61.62 and a 52-week high of $88.94. The business has a 50 day moving average of $72.45 and a 200-day moving average of $73.06. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.44 and a current ratio of 2.15.
CVR Partners Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were paid a dividend of $1.19 per share. The ex-dividend date was Friday, November 8th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 6.43%. CVR Partners's dividend payout ratio is presently 95.77%.
Insider Activity at CVR Partners
In related news, major shareholder Carl C. Icahn purchased 9,382 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average price of $68.75 per share, with a total value of $645,012.50. Following the completion of the purchase, the insider now owns 9,382 shares of the company's stock, valued at approximately $645,012.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have bought 70,161 shares of company stock worth $4,953,986.
Hedge Funds Weigh In On CVR Partners
Hedge funds and other institutional investors have recently made changes to their positions in the company. McIlrath & Eck LLC bought a new stake in CVR Partners during the third quarter valued at about $51,000. Oxbow Advisors LLC raised its stake in shares of CVR Partners by 10.5% during the 3rd quarter. Oxbow Advisors LLC now owns 3,100 shares of the basic materials company's stock worth $208,000 after acquiring an additional 295 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in CVR Partners in the third quarter valued at approximately $244,000. Exchange Traded Concepts LLC purchased a new position in CVR Partners in the third quarter worth $293,000. Finally, GSA Capital Partners LLP increased its position in shares of CVR Partners by 12.8% during the third quarter. GSA Capital Partners LLP now owns 10,458 shares of the basic materials company's stock worth $702,000 after purchasing an additional 1,187 shares in the last quarter. Institutional investors own 43.83% of the company's stock.
CVR Partners Company Profile
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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.
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