CVR Partners (NYSE:UAN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of CVR Partners (NYSE:UAN) from a buy rating to a hold rating in a report issued on Wednesday morning.

CVR Partners Stock Performance

NYSE:UAN opened at $69.95 on Wednesday. The stock has a market cap of $739.37 million, a P/E ratio of 8.90 and a beta of 1.27. The company has a current ratio of 3.09, a quick ratio of 1.73 and a debt-to-equity ratio of 1.80. The stock’s 50-day moving average is $72.39 and its 200-day moving average is $75.71. CVR Partners has a 1-year low of $60.50 and a 1-year high of $88.94.

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

CVR Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 10.86%. The ex-dividend date was Monday, August 12th. CVR Partners’s dividend payout ratio is currently 96.69%.

Hedge Funds Weigh In On CVR Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oxbow Advisors LLC acquired a new position in shares of CVR Partners in the second quarter worth approximately $212,000. Aristides Capital LLC acquired a new position in shares of CVR Partners in the fourth quarter worth approximately $256,000. Virtu Financial LLC acquired a new position in shares of CVR Partners in the first quarter worth approximately $506,000. Jump Financial LLC lifted its stake in shares of CVR Partners by 76.4% in the fourth quarter. Jump Financial LLC now owns 8,210 shares of the basic materials company’s stock worth $538,000 after acquiring an additional 3,556 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of CVR Partners in the first quarter worth approximately $820,000. 43.83% of the stock is owned by institutional investors and hedge funds.

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.