CVR Partners (NYSE:UAN) Sets New 12-Month High – Here’s Why

CVR Partners, LP (NYSE:UAN)’s stock price reached a new 52-week high on Monday . The stock traded as high as $100.89 and last traded at $99.4850, with a volume of 29820 shares trading hands. The stock had previously closed at $99.17.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of CVR Partners in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

CVR Partners Price Performance

The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 8.24 and a beta of 1.03. The company has a current ratio of 3.45, a quick ratio of 2.40 and a debt-to-equity ratio of 1.80. The company’s 50 day simple moving average is $93.08 and its 200-day simple moving average is $89.56.

CVR Partners (NYSE:UAN) last announced its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $4.08 earnings per share (EPS) for the quarter. CVR Partners had a net margin of 20.70% and a return on equity of 41.88%. The business had revenue of $163.55 million for the quarter.

CVR Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 10th were issued a dividend of $4.02 per share. This represents a $16.08 dividend on an annualized basis and a dividend yield of 16.2%. The ex-dividend date was Monday, November 10th. This is a positive change from CVR Partners’s previous quarterly dividend of $3.89. CVR Partners’s payout ratio is currently 133.55%.

Institutional Investors Weigh In On CVR Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new position in shares of CVR Partners during the second quarter valued at $16,516,000. Natixis acquired a new stake in shares of CVR Partners in the 2nd quarter worth approximately $4,442,000. Jane Street Group LLC bought a new position in shares of CVR Partners in the first quarter valued at approximately $1,595,000. Bank of America Corp DE raised its holdings in CVR Partners by 144.6% during the second quarter. Bank of America Corp DE now owns 21,376 shares of the basic materials company’s stock worth $1,899,000 after purchasing an additional 12,637 shares in the last quarter. Finally, PEAK6 LLC acquired a new position in shares of CVR Partners during the 1st quarter valued at $573,000. 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.