CVR Partners (NYSE:UAN) Trading 7.7% Higher After Insider Buying Activity

CVR Partners, LP (NYSE:UAN)’s stock price was up 7.7% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $70.15 and last traded at $70.36. Approximately 15,167 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 31,896 shares. The stock had previously closed at $65.32.

Specifically, major shareholder Carl C. Icahn purchased 6,071 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was bought at an average cost of $66.65 per share, for a total transaction of $404,632.15. Following the completion of the acquisition, the insider now directly owns 219,620 shares in the company, valued at $14,637,673. This represents a 2.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Carl C. Icahn acquired 500 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were bought at an average price of $74.98 per share, for a total transaction of $37,490.00. Following the acquisition, the insider now owns 207,686 shares in the company, valued at approximately $15,572,296.28. This trade represents a 0.24 % increase in their position. The disclosure for this purchase can be found here.

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 fifty day moving average price of $77.11 and a two-hundred day moving average price of $74.84. The company has a current ratio of 2.10, a quick ratio of 1.44 and a debt-to-equity ratio of 1.94. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 12.00 and a beta of 0.89.

CVR Partners (NYSE:UAN) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter. The firm had revenue of $139.56 million for the quarter. CVR Partners had a net margin of 11.59% and a return on equity of 20.61%.

CVR Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, March 3rd were paid a dividend of $1.75 per share. This is a boost from CVR Partners’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, March 3rd. This represents a $7.00 dividend on an annualized basis and a yield of 10.12%. CVR Partners’s dividend payout ratio (DPR) is currently 121.53%.

Institutional Investors Weigh In On CVR Partners

A number of institutional investors have recently added to or reduced their stakes in UAN. Chancellor Financial Group WB LP bought a new position in shares of CVR Partners during the 4th quarter worth approximately $209,000. McIlrath & Eck LLC boosted its stake in shares of CVR Partners by 137.2% in the 4th quarter. McIlrath & Eck LLC now owns 1,803 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 1,043 shares in the last quarter. Novem Group bought a new stake in shares of CVR Partners in the 4th quarter worth about $243,000. Bank of America Corp DE increased its position in shares of CVR Partners by 13.4% during the 4th quarter. Bank of America Corp DE now owns 12,833 shares of the basic materials company’s stock worth $975,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Icahn Carl C boosted its position in CVR Partners by 4.5% in the fourth quarter. Icahn Carl C now owns 4,066,192 shares of the basic materials company’s stock valued at $308,868,000 after buying an additional 174,192 shares in 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.