CVR Partners (NYSE:UAN) Shares Down 6.1% – Here’s Why

CVR Partners, LP (NYSE:UAN)’s stock price fell 6.1% during mid-day trading on Wednesday . The stock traded as low as $65.50 and last traded at $65.88. 62,714 shares changed hands during trading, an increase of 84% from the average session volume of 34,153 shares. The stock had previously closed at $70.16.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded CVR Partners from a “hold” rating to a “buy” rating in a report on Thursday, October 17th.

CVR Partners Stock Performance

The company’s 50 day simple moving average is $69.23 and its 200 day simple moving average is $74.89. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.73 and a current ratio of 3.09. The stock has a market cap of $1.12 billion, a PE ratio of 13.81 and a beta of 1.27.

CVR Partners (NYSE:UAN) last released its earnings results on Monday, July 29th. The basic materials company reported $2.48 earnings per share (EPS) for the quarter. The company had revenue of $132.90 million during the quarter. CVR Partners had a return on equity of 16.32% and a net margin of 9.29%.

CVR Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be given a $1.19 dividend. The ex-dividend date is Friday, November 8th. This represents a $4.76 annualized dividend and a yield of 7.26%. CVR Partners’s dividend payout ratio is currently 162.39%.

Hedge Funds Weigh In On CVR Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Founders Financial Alliance LLC raised its position in CVR Partners by 9.0% in the second quarter. Founders Financial Alliance LLC now owns 16,898 shares of the basic materials company’s stock worth $1,279,000 after acquiring an additional 1,400 shares during the period. SG Americas Securities LLC purchased a new stake in shares of CVR Partners during the 1st quarter worth approximately $820,000. Virtu Financial LLC bought a new stake in shares of CVR Partners in the 1st quarter worth approximately $506,000. Exchange Traded Concepts LLC purchased a new position in CVR Partners in the third quarter valued at approximately $293,000. Finally, Oxbow Advisors LLC purchased a new position in CVR Partners in the second quarter valued at approximately $212,000. Institutional investors own 43.83% of the company’s stock.

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.