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

StockNews.com downgraded shares of CVR Partners (NYSE:UAN) from a strong-buy rating to a buy rating in a report released on Wednesday morning.

CVR Partners Trading Up 1.4 %

Shares of NYSE:UAN opened at $74.21 on Wednesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.44 and a current ratio of 2.15. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 14.93 and a beta of 1.35. CVR Partners has a 1-year low of $61.62 and a 1-year high of $88.94. The company has a 50 day moving average price of $72.65 and a 200 day moving average price of $73.07.

CVR Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, November 8th. CVR Partners’s payout ratio is 95.77%.

Insider Transactions at CVR Partners

In other news, major shareholder Carl C. Icahn purchased 9,382 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were acquired at an average price of $68.75 per share, for a total transaction of $645,012.50. Following the completion of the acquisition, the insider now directly owns 9,382 shares of the company’s stock, valued at $645,012.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 78,650 shares of company stock valued at $5,584,794 over the last three months.

Hedge Funds Weigh In On CVR Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oxbow Advisors LLC purchased a new stake in shares of CVR Partners in the second quarter valued at $212,000. Founders Financial Alliance LLC grew its holdings in shares of CVR Partners by 9.0% during the second quarter. Founders Financial Alliance LLC now owns 16,898 shares of the basic materials company’s stock valued at $1,279,000 after buying an additional 1,400 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in CVR Partners during the third quarter valued at $293,000. Apollon Wealth Management LLC purchased a new stake in CVR Partners in the 3rd quarter worth about $244,000. Finally, GSA Capital Partners LLP boosted its position in CVR Partners by 12.8% during 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 period. Institutional investors and hedge funds 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.