CVR Partners (NYSE:UAN) Reaches New 1-Year High - Here's Why

Key Points

• CVR Partners' shares reached a new 52-week high, trading at $98.38 before closing at $97.49, marking a significant increase in its stock value.
• The company recently announced a dividend of $3.89, representing a striking yield of 1,601.0%, up from a previous dividend of $2.26.
• Wall Street analysts upgraded CVR Partners from a "buy" rating to a "strong-buy" rating, indicating strong investor confidence in the company's future performance.

CVR Partners, LP (NYSE:UAN - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $98.38 and last traded at $97.49, with a volume of 15702 shares trading hands. The stock had previously closed at $95.93.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of CVR Partners from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th.

CVR Partners Stock Up 0.2%

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 stock has a market capitalization of $1.54 billion, a PE ratio of 10.82 and a beta of 1.07. The stock's fifty day simple moving average is $89.19 and its 200-day simple moving average is $81.70.

CVR Partners (NYSE:UAN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $3.67 earnings per share (EPS) for the quarter. The firm had revenue of $168.56 million for the quarter. CVR Partners had a net margin of 15.27% and a return on equity of 29.35%.

CVR Partners Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, August 18th. Shareholders of record on Tuesday, August 12th will be issued a dividend of $3.89 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a yield of 1,601.0%. This is a positive change from CVR Partners's previous dividend of $2.26. CVR Partners's payout ratio is presently 187.02%.

Hedge Funds Weigh In On CVR Partners

A number of hedge funds have recently bought and sold shares of UAN. McIlrath & Eck LLC boosted its holdings in CVR Partners by 137.2% during the 4th quarter. McIlrath & Eck LLC now owns 1,803 shares of the basic materials company's stock worth $137,000 after acquiring an additional 1,043 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of CVR Partners in the 2nd quarter worth about $204,000. Chancellor Financial Group WB LP purchased a new position in shares of CVR Partners in the 4th quarter worth about $209,000. Stifel Financial Corp purchased a new position in shares of CVR Partners in the 4th quarter worth about $227,000. Finally, Raymond James Financial Inc. purchased a new position in shares of CVR Partners in the 4th quarter worth about $233,000. 43.83% of the stock is owned by hedge funds and other 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.