CVR Partners LP (UAN) Position Maintained by First Manhattan Co.
First Manhattan Co. continued to hold its stake in shares of CVR Partners LP (NYSE:UAN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,000 shares of the basic materials company’s stock at the end of the first quarter. First Manhattan Co.’s holdings in CVR Partners were worth $238,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Nuveen Fund Advisors LLC increased its stake in CVR Partners by 73.0% in the third quarter. Nuveen Fund Advisors LLC now owns 26,652 shares of the basic materials company’s stock worth $141,000 after buying an additional 11,247 shares in the last quarter. Quinn Opportunity Partners LLC increased its position in CVR Partners by 177.5% in the fourth quarter. Quinn Opportunity Partners LLC now owns 84,430 shares of the basic materials company’s stock worth $507,000 after buying an additional 54,000 shares during the period. GSA Capital Partners LLP acquired a new position in CVR Partners during the fourth quarter worth about $530,000. BlackRock Inc. boosted its position in CVR Partners by 58.6% in the third quarter. BlackRock Inc. now owns 152,022 shares of the basic materials company’s stock worth $806,000 after buying an additional 56,174 shares in the last quarter. Finally, Raging Capital Management LLC acquired a new position in CVR Partners during the fourth quarter worth about $4,623,000. 19.89% of the stock is owned by institutional investors and hedge funds.
Shares of CVR Partners LP (NYSE:UAN) traded down 0.84% during midday trading on Friday, reaching $4.72. The company had a trading volume of 207,809 shares. CVR Partners LP has a one year low of $4.05 and a one year high of $9.75. The company’s market capitalization is $534.69 million. The company has a 50-day moving average price of $4.72 and a 200 day moving average price of $5.28.
CVR Partners (NYSE:UAN) last issued its earnings results on Thursday, April 27th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.07. The firm had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $90.04 million. CVR Partners had a return on equity of 4.69% and a net margin of 1.87%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS. Equities analysts anticipate that CVR Partners LP will post ($0.14) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 8th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, May 4th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.68%. CVR Partners’s payout ratio is currently 295.85%.
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UAN has been the topic of several analyst reports. Goldman Sachs Group Inc upgraded CVR Partners from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Monday, March 20th. Zacks Investment Research lowered CVR Partners from a “hold” rating to a “sell” rating in a research note on Tuesday.
About CVR Partners
CVR Partners, LP is a limited partnership formed by CVR Energy, Inc (CVR Energy) to own, operate and grow its nitrogen fertilizer business. The Company produces and distributes nitrogen fertilizer products, which are used by farmers to manage the yield and quality of their crops. As of December 31, 2016, the Company produced its nitrogen fertilizer products at two manufacturing facilities, located in Coffeyville, Kansas and East Dubuque, Illinois.
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