CVR Partners, LP (NYSE:UAN) Increases Dividend to $1.75 Per Share

CVR Partners, LP (NYSE:UAN) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Monday, March 3rd will be given a dividend of 1.75 per share by the basic materials company on Monday, March 10th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date is Monday, March 3rd. This is a positive change from CVR Partners’s previous quarterly dividend of $1.19.

CVR Partners has raised its dividend payment by an average of 12.9% per year over the last three years.

CVR Partners Trading Up 1.6 %

Shares of UAN stock traded up $1.23 during trading on Wednesday, hitting $80.16. 47,088 shares of the stock traded hands, compared to its average volume of 32,393. The firm has a market capitalization of $1.37 billion, a P/E ratio of 16.13 and a beta of 1.35. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.15 and a quick ratio of 1.44. The firm’s fifty day moving average price is $78.34 and its 200-day moving average price is $73.44. CVR Partners has a 52-week low of $61.62 and a 52-week high of $88.94.

CVR Partners (NYSE:UAN) last posted its earnings results on Tuesday, February 18th. The basic materials company reported $1.73 earnings per share for the quarter. CVR Partners had a net margin of 9.97% and a return on equity of 17.65%. The firm had revenue of $139.56 million during the quarter.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of CVR Partners from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th.

Insider Activity at CVR Partners

In related news, major shareholder Carl C. Icahn purchased 2,518 shares of CVR Partners stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $74.97 per share, with a total value of $188,774.46. Following the completion of the transaction, the insider now directly owns 147,213 shares in the company, valued at approximately $11,036,558.61. The trade was a 1.74 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 23,855 shares of company stock valued at $1,777,923 over the last ninety days.

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.