CVR Partners (NYSE:UAN) Shares Up 7.7% After Insider Buying Activity

CVR Partners, LP (NYSE:UAN) was up 7.7% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $70.15 and last traded at $70.36. Approximately 15,167 shares changed hands 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 acquired 6,071 shares of the business’s stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $66.65 per share, for a total transaction of $404,632.15. Following the transaction, the insider now owns 219,620 shares in the company, valued at $14,637,673. This trade represents a 2.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Carl C. Icahn purchased 500 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were bought at an average cost of $74.98 per share, for a total transaction of $37,490.00. Following the completion of the purchase, the insider now directly owns 207,686 shares of the company’s stock, valued at $15,572,296.28. The trade was a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CVR Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st.

CVR Partners Trading Up 5.9 %

The company has a market capitalization of $1.18 billion, a P/E ratio of 12.00 and a beta of 0.89. The business has a fifty day moving average price of $77.11 and a 200 day moving average price of $74.84. The company has a quick ratio of 1.44, a current ratio of 2.10 and a debt-to-equity ratio of 1.94.

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

CVR Partners Increases Dividend

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

Hedge Funds Weigh In On CVR Partners

Several large investors have recently bought and sold shares of the company. Icahn Carl C raised its stake in CVR Partners by 4.5% during the fourth quarter. Icahn Carl C now owns 4,066,192 shares of the basic materials company’s stock worth $308,868,000 after buying an additional 174,192 shares during the last quarter. Rangeley Capital LLC acquired a new stake in CVR Partners in the 4th quarter valued at $1,823,000. Bank of America Corp DE grew its holdings in shares of CVR Partners by 13.4% during the fourth quarter. Bank of America Corp DE now owns 12,833 shares of the basic materials company’s stock valued at $975,000 after buying an additional 1,520 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of CVR Partners in the fourth quarter worth approximately $480,000. Finally, Apollon Wealth Management LLC boosted its holdings in CVR Partners by 18.4% during the 4th quarter. Apollon Wealth Management LLC now owns 4,295 shares of the basic materials company’s stock worth $326,000 after acquiring an additional 667 shares during the last quarter. 43.83% of the stock is currently owned by institutional investors.

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.