CVR Partners (NYSE:UAN) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of CVR Partners (NYSE:UAN) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

A number of other brokerages have also weighed in on UAN. Freedom Broker initiated coverage on shares of CVR Partners in a research note on Tuesday, October 27th. They issued a “hold” rating and a $124.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of CVR Partners in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.00.

CVR Partners Trading Up 0.7%

CVR Partners stock opened at $109.32 on Friday. CVR Partners has a 52 week low of $93.43 and a 52 week high of $139.50. The company has a debt-to-equity ratio of 2.09, a quick ratio of 2.11 and a current ratio of 1.65. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 10.87 and a beta of 0.21. The company has a 50 day moving average price of $126.85 and a 200 day moving average price of $121.53.

CVR Partners (NYSE:UAN) last announced its earnings results on Tuesday, November 3rd. The basic materials company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($2.64). The firm had revenue of $146.15 million for the quarter, compared to analyst estimates of $165.40 million. CVR Partners had a net margin of 16.14% and a return on equity of 35.58%.

CVR Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be paid a dividend of $1.79 per share. This is a drop from CVR Partners’s previous quarterly dividend of $6.08. The ex-dividend date of this dividend is Monday, November 16th. This represents a $7.16 annualized dividend and a yield of 6.5%. CVR Partners’s dividend payout ratio is presently 241.75%.

Institutional Investors Weigh In On CVR Partners

A number of large investors have recently modified their holdings of UAN. De Lisle Partners LLP acquired a new stake in shares of CVR Partners in the second quarter valued at about $6,058,000. Royal Bank of Canada boosted its position in CVR Partners by 30.6% during the first quarter. Royal Bank of Canada now owns 11,054 shares of the basic materials company’s stock worth $1,400,000 after acquiring an additional 2,591 shares during the last quarter. Apollon Wealth Management LLC boosted its position in CVR Partners by 2.0% during the third quarter. Apollon Wealth Management LLC now owns 7,873 shares of the basic materials company’s stock worth $974,000 after acquiring an additional 158 shares during the last quarter. Bank of America Corp DE grew its stake in CVR Partners by 219.8% during the 1st quarter. Bank of America Corp DE now owns 7,209 shares of the basic materials company’s stock valued at $913,000 after acquiring an additional 4,955 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new stake in CVR Partners during the 3rd quarter valued at about $542,000. Hedge funds and other institutional investors own 43.83% of the company’s stock.

CVR Partners Company Profile

CVR Partners, LP (NYSE: UAN) is a nitrogen fertilizer producer organized as a master limited partnership and managed by CVR GP, LLC. The company manufactures and sells nitrogen-based fertilizers used primarily in agricultural applications.

Its principal products are ammonia and urea ammonium nitrate (UAN) solution. Ammonia is sold directly to agricultural customers and other users, while UAN is a liquid fertilizer commonly applied to crops. CVR Partners markets its products to distributors, retailers, and agricultural customers.

CVR Partners operates production facilities in Coffeyville, Kansas, and East Dubuque, Illinois.