CVR Partners LP (NYSE:UAN) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 156,700 shares, a drop of 18.4% from the June 30th total of 192,100 shares. Based on an average daily volume of 95,400 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.2% of the company’s stock are short sold.
A number of institutional investors have recently modified their holdings of UAN. Citigroup Inc. lifted its holdings in CVR Partners by 53.8% during the first quarter. Citigroup Inc. now owns 1,857,564 shares of the basic materials company’s stock worth $7,356,000 after acquiring an additional 649,459 shares during the period. Bank of America Corp DE lifted its holdings in CVR Partners by 40.5% during the fourth quarter. Bank of America Corp DE now owns 256,162 shares of the basic materials company’s stock worth $871,000 after acquiring an additional 73,819 shares during the period. JPMorgan Chase & Co. lifted its holdings in CVR Partners by 2.0% during the first quarter. JPMorgan Chase & Co. now owns 3,011,675 shares of the basic materials company’s stock worth $11,926,000 after acquiring an additional 58,260 shares during the period. Deutsche Bank AG lifted its holdings in CVR Partners by 6,343.3% during the fourth quarter. Deutsche Bank AG now owns 37,500 shares of the basic materials company’s stock worth $127,000 after acquiring an additional 36,918 shares during the period. Finally, Bank of Montreal Can lifted its holdings in CVR Partners by 157.6% during the second quarter. Bank of Montreal Can now owns 38,643 shares of the basic materials company’s stock worth $158,000 after acquiring an additional 23,643 shares during the period. Institutional investors and hedge funds own 37.36% of the company’s stock.
Separately, TheStreet upgraded CVR Partners from a “d+” rating to a “c” rating in a report on Thursday, July 25th.
CVR Partners (NYSE:UAN) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.12. CVR Partners had a negative return on equity of 0.33% and a negative net margin of 0.40%. The company had revenue of $137.66 million for the quarter. As a group, equities research analysts predict that CVR Partners will post -0.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 14.81%. The ex-dividend date of this dividend was Friday, August 2nd. This is a positive change from CVR Partners’s previous quarterly dividend of $0.07. CVR Partners’s dividend payout ratio (DPR) is currently -127.27%.
About CVR Partners
CVR Partners, LP produces, distributes, and markets nitrogen fertilizer products in the United States. The company offers ammonia products for agricultural and industrial customers; and urea and ammonium nitrate products to agricultural customers, as well as retailers and distributors. CVR GP, LLC serves as the general partner of the company.
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