CVR Partners (NYSE:UAN) Shares Gap Down – Should You Sell?

Shares of CVR Partners, LP (NYSE:UAN) gapped down before the market opened on Wednesday . The stock had previously closed at $78.93, but opened at $75.35. CVR Partners shares last traded at $80.54, with a volume of 5,669 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of CVR Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday.

CVR Partners Price Performance

The company has a market capitalization of $1.37 billion, a PE ratio of 13.85 and a beta of 1.35. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.15 and a quick ratio of 1.44. The company’s 50 day simple moving average is $78.53 and its 200 day simple moving average is $73.54.

CVR Partners (NYSE:UAN) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.73 EPS for the quarter. The company had revenue of $139.56 million for the quarter. CVR Partners had a net margin of 11.59% and a return on equity of 20.56%.

CVR Partners Increases Dividend

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

Insider Buying and Selling at CVR Partners

In other CVR Partners news, major shareholder Carl C. Icahn bought 2,851 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $74.84 per share, for a total transaction of $213,368.84. Following the completion of the transaction, the insider now owns 144,695 shares in the company, valued at approximately $10,828,973.80. The trade was a 2.01 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 23,855 shares of company stock worth $1,777,923 over the last three months.

Hedge Funds Weigh In On CVR Partners

A number of hedge funds have recently modified their holdings of UAN. McIlrath & Eck LLC purchased a new position in shares of CVR Partners during the third quarter worth approximately $51,000. Oxbow Advisors LLC grew its position in shares of CVR Partners by 10.5% during the third 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 during the last quarter. Summit Securities Group LLC grew its position in shares of CVR Partners by 123.1% during the fourth quarter. Summit Securities Group LLC now owns 2,900 shares of the basic materials company’s stock worth $220,000 after acquiring an additional 1,600 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of CVR Partners during the fourth quarter worth approximately $226,000. Finally, Stifel Financial Corp purchased a new position in shares of CVR Partners during the fourth quarter worth approximately $227,000. 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.