Zazove Associates LLC Has $481,000 Position in CVR Partners, LP (NYSE:UAN)

Key Points

• Zazove Associates LLC significantly reduced its holdings in CVR Partners, LP by 91.8%, selling 71,300 shares and leaving it with only 6,400 shares worth approximately $481,000.
• CVR Partners announced a dividend of $3.89 per share, which is a substantial increase from the previous $2.26, representing a remarkable dividend yield of 1,601.0%.
• Wall Street analysts upgraded CVR Partners from a "buy" to a "strong-buy" rating, indicating increased confidence in the company's stock outlook.

Zazove Associates LLC lowered its holdings in CVR Partners, LP (NYSE:UAN - Free Report) by 91.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,400 shares of the basic materials company's stock after selling 71,300 shares during the quarter. Zazove Associates LLC's holdings in CVR Partners were worth $481,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. McIlrath & Eck LLC lifted its stake in shares of CVR Partners by 137.2% during the fourth quarter. McIlrath & Eck LLC now owns 1,803 shares of the basic materials company's stock valued at $137,000 after acquiring an additional 1,043 shares during the period. Chancellor Financial Group WB LP acquired a new position in shares of CVR Partners during the fourth quarter valued at $209,000. Stifel Financial Corp acquired a new position in shares of CVR Partners during the fourth quarter valued at $227,000. Raymond James Financial Inc. acquired a new position in shares of CVR Partners during the fourth quarter valued at $233,000. Finally, MGO One Seven LLC acquired a new position in shares of CVR Partners during the fourth quarter valued at $243,000. Institutional investors and hedge funds own 43.83% of the company's stock.

CVR Partners Trading Up 2.1%

Shares of UAN traded up $1.91 during trading hours on Friday, hitting $91.19. 28,033 shares of the stock traded hands, compared to its average volume of 29,127. The company has a current ratio of 3.45, a quick ratio of 2.40 and a debt-to-equity ratio of 1.80. CVR Partners, LP has a 1-year low of $62.94 and a 1-year high of $98.99. The firm has a market capitalization of $1.56 billion, a PE ratio of 10.96 and a beta of 1.07. The business has a fifty day moving average of $89.64 and a 200-day moving average of $81.88.

CVR Partners (NYSE:UAN - Get Free Report) last issued its quarterly 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 business had revenue of $168.56 million for the quarter.

CVR Partners Increases Dividend

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

Analysts Set New Price Targets

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

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.