CVR Partners (NYSE:UAN) Shares Gap Down – Here’s What Happened

CVR Partners, LP (NYSE:UAN)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $67.84, but opened at $66.00. CVR Partners shares last traded at $69.15, with a volume of 1,866 shares traded.

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.

CVR Partners Price Performance

The company has a debt-to-equity ratio of 1.94, a current ratio of 2.10 and a quick ratio of 1.44. The stock has a market capitalization of $1.21 billion, a P/E ratio of 12.24 and a beta of 0.89. The stock’s fifty day moving average is $75.72 and its 200-day moving average is $74.73.

CVR Partners (NYSE:UAN) last released 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 company had revenue of $139.56 million during the quarter.

CVR Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, March 3rd were given a $1.75 dividend. This is a positive change from CVR Partners’s previous quarterly dividend of $1.19. 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 9.93%. CVR Partners’s dividend payout ratio (DPR) is currently 121.53%.

Insider Transactions at CVR Partners

In other news, major shareholder Carl C. Icahn bought 500 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of $74.98 per share, for a total transaction of $37,490.00. Following the acquisition, the insider now directly owns 207,686 shares of the company’s stock, valued at $15,572,296.28. The trade was a 0.24 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders bought 32,658 shares of company stock worth $2,351,697.

Institutional Investors Weigh In On CVR Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rangeley Capital LLC bought a new stake in CVR Partners during the 4th quarter valued at approximately $1,823,000. Virtu Financial LLC acquired a new position in shares of CVR Partners during the fourth quarter worth approximately $226,000. Summit Securities Group LLC boosted its position in shares of CVR Partners by 123.1% in the fourth quarter. Summit Securities Group LLC now owns 2,900 shares of the basic materials company’s stock valued at $220,000 after acquiring an additional 1,600 shares during the period. McIlrath & Eck LLC acquired a new stake in shares of CVR Partners in the third quarter worth $51,000. Finally, Apollon Wealth Management LLC grew its stake in shares of CVR Partners by 18.4% in the fourth quarter. Apollon Wealth Management LLC now owns 4,295 shares of the basic materials company’s stock worth $326,000 after acquiring an additional 667 shares during the last quarter. 43.83% of the stock is owned by institutional investors and hedge funds.

CVR Partners Company Profile

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.