CVR Partners (NYSE:UAN) Shares Up 7.7% After Insider Buying Activity

CVR Partners, LP (NYSE:UAN - Get Free Report)'s stock price was up 7.7% during trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $70.15 and last traded at $70.36. Approximately 15,167 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 31,896 shares. The stock had previously closed at $65.32.

Specifically, major shareholder Carl C. Icahn bought 6,071 shares of the company's stock in a transaction on Monday, April 7th. The stock was bought at an average cost of $66.65 per share, for a total transaction of $404,632.15. Following the acquisition, the insider now directly owns 219,620 shares in the company, valued at $14,637,673. This represents a 2.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Carl C. Icahn purchased 500 shares of CVR Partners stock in a transaction dated Thursday, April 3rd. The shares were bought at an average price of $74.98 per share, for a total transaction of $37,490.00. Following the acquisition, the insider now owns 207,686 shares in the company, valued at approximately $15,572,296.28. This trade represents a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of CVR Partners from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 21st.

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CVR Partners Stock Up 5.5 %

The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.44 and a current ratio of 2.10. The firm has a market capitalization of $1.23 billion, a PE ratio of 12.43 and a beta of 0.89. The business's 50 day moving average price is $75.52 and its 200-day moving average price is $74.76.

CVR Partners (NYSE:UAN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.73 earnings per share 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were issued a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.00 dividend on an annualized basis and a dividend yield of 9.78%. This is a boost from CVR Partners's previous quarterly dividend of $1.19. CVR Partners's payout ratio is 121.53%.

Hedge Funds Weigh In On CVR Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC boosted 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 buying an additional 667 shares during the period. McIlrath & Eck LLC acquired a new position in CVR Partners during the 3rd quarter worth approximately $51,000. Bank of America Corp DE raised its holdings in shares of 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 in the last quarter. Summit Securities Group LLC lifted its position in shares of CVR Partners by 123.1% during the 4th quarter. Summit Securities Group LLC now owns 2,900 shares of the basic materials company's stock worth $220,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Chancellor Financial Group WB LP acquired a new position in shares of CVR Partners during the fourth quarter worth $209,000. Hedge funds and other institutional investors own 43.83% of the company's stock.

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.