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 research report report published on Monday.

CVR Partners Stock Performance

CVR Partners stock opened at $81.66 on Monday. The firm’s 50 day simple moving average is $70.25 and its 200 day simple moving average is $73.57. The company has a current ratio of 2.15, a quick ratio of 1.44 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $1.40 billion, a PE ratio of 16.43 and a beta of 1.28. CVR Partners has a 1-year low of $60.50 and a 1-year high of $88.94.

CVR Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders 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 5.83%. The ex-dividend date of this dividend was Friday, November 8th. CVR Partners’s payout ratio is 95.77%.

Insider Activity

In related news, major shareholder Carl C. Icahn acquired 23,910 shares of the stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $68.76 per share, for a total transaction of $1,644,051.60. Following the transaction, the insider now owns 55,552 shares in the company, valued at $3,819,755.52. This represents a 75.56 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have purchased 64,792 shares of company stock worth $4,551,843.

Institutional Trading of CVR Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. McIlrath & Eck LLC bought a new position in CVR Partners during the third quarter valued at approximately $51,000. Oxbow Advisors LLC grew its position in CVR Partners by 10.5% during the third quarter. Oxbow Advisors LLC now owns 3,100 shares of the basic materials company’s stock valued at $208,000 after acquiring an additional 295 shares during the last quarter. Apollon Wealth Management LLC bought a new position in CVR Partners during the third quarter valued at approximately $244,000. Exchange Traded Concepts LLC bought a new position in CVR Partners during the third quarter valued at approximately $293,000. Finally, GSA Capital Partners LLP grew its position in CVR Partners by 12.8% during the third 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. 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.