StockNews.com Downgrades CVR Partners (NYSE:UAN) to Buy

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

CVR Partners Stock Performance

Shares of NYSE:UAN opened at $74.07 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.15 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 14.90 and a beta of 1.35. The firm has a 50 day moving average of $72.45 and a 200 day moving average of $73.06. CVR Partners has a 52 week low of $61.62 and a 52 week high of $88.94.

CVR Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were given 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 yield of 6.43%. CVR Partners’s payout ratio is 95.77%.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn bought 9,382 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were purchased at an average cost of $68.75 per share, with a total value of $645,012.50. Following the transaction, the insider now directly owns 9,382 shares in the company, valued at approximately $645,012.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 70,161 shares of company stock worth $4,953,986 in the last ninety days.

Institutional Investors Weigh In On CVR Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC purchased a new stake in shares of CVR Partners during the third quarter worth about $51,000. Oxbow Advisors LLC lifted 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 purchasing an additional 295 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of CVR Partners in the third quarter worth $244,000. Exchange Traded Concepts LLC acquired a new stake in CVR Partners in the third quarter valued at approximately $293,000. Finally, GSA Capital Partners LLP increased its holdings in shares of CVR Partners by 12.8% in the 3rd quarter. GSA Capital Partners LLP now owns 10,458 shares of the basic materials company’s stock valued at $702,000 after acquiring an additional 1,187 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.