CVR Partners (NYSE:UAN) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• CVR Partners' stock price recently crossed above its 200-day moving average of $83.65, reaching a high of $92.06 before settling at $91.00.
• The company increased its quarterly dividend from $2.26 to $3.89, yielding 17.1% annually, although its payout ratio stands at 187.02%.
• Large institutional investors are actively adjusting their stakes in CVR Partners, with JPMorgan Chase & Co. and Natixis among the notable new positions acquired in the second quarter.

CVR Partners, LP (NYSE:UAN - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $83.65 and traded as high as $92.06. CVR Partners shares last traded at $91.00, with a volume of 22,444 shares changing hands.

CVR Partners Stock Performance

The firm has a market capitalization of $1.56 billion, a PE ratio of 10.95 and a beta of 1.16. The firm's 50 day moving average price is $90.30 and its 200-day moving average price is $83.87. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.40 and a current ratio of 3.45.

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

CVR Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were issued a dividend of $3.89 per share. This is an increase from CVR Partners's previous quarterly dividend of $2.26. This represents a $15.56 dividend on an annualized basis and a dividend yield of 17.1%. The ex-dividend date was Monday, August 11th. CVR Partners's dividend payout ratio (DPR) is presently 187.02%.

Institutional Investors Weigh In On CVR Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in shares of CVR Partners by 13.4% in 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 purchasing an additional 1,520 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of CVR Partners during the 1st quarter worth $266,000. De Lisle Partners LLP raised its stake in CVR Partners by 10.8% in the 1st quarter. De Lisle Partners LLP now owns 50,633 shares of the basic materials company's stock valued at $3,805,000 after acquiring an additional 4,916 shares during the period. Apollon Wealth Management LLC grew its holdings in CVR Partners by 46.4% during the 1st quarter. Apollon Wealth Management LLC now owns 6,286 shares of the basic materials company's stock valued at $473,000 after buying an additional 1,991 shares in the last quarter. Finally, PEAK6 LLC purchased a new stake in CVR Partners in the first quarter worth approximately $573,000. Institutional investors and hedge funds 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.