California Public Employees Retirement System Raises Stake in CVR Partners LP (UAN)
California Public Employees Retirement System boosted its stake in CVR Partners LP (NYSE:UAN) by 20.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,552 shares of the company’s stock after buying an additional 41,952 shares during the period. California Public Employees Retirement System owned 0.34% of CVR Partners worth $2,022,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC purchased a new position in CVR Partners during the second quarter valued at approximately $3,489,000. Pekin Singer Strauss Asset Management IL increased its position in CVR Partners by 1,308.0% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 256,257 shares of the company’s stock valued at $2,094,000 after buying an additional 238,057 shares during the last quarter. Credit Capital Investments LLC increased its position in CVR Partners by 82.0% in the first quarter. Credit Capital Investments LLC now owns 268,510 shares of the company’s stock valued at $2,245,000 after buying an additional 120,947 shares during the last quarter. NWQ Investment Management Company LLC increased its position in CVR Partners by 16.1% in the first quarter. NWQ Investment Management Company LLC now owns 560,526 shares of the company’s stock valued at $4,686,000 after buying an additional 77,900 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in CVR Partners during the second quarter valued at approximately $245,000.
Shares of CVR Partners LP (NYSE:UAN) traded down 3.21% during mid-day trading on Thursday, reaching $5.43. The company’s stock had a trading volume of 146,940 shares. CVR Partners LP has a one year low of $4.77 and a one year high of $10.64. The stock has a market cap of $615.12 million, a P/E ratio of 74.38 and a beta of 1.22. The stock has a 50 day moving average of $5.73 and a 200-day moving average of $7.45.
CVR Partners (NYSE:UAN) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.36. The company earned $119.80 million during the quarter, compared to analysts’ expectations of $116.05 million. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue was up 48.3% compared to the same quarter last year. On average, equities research analysts expect that CVR Partners LP will post $0.31 EPS for the current fiscal year.
Several analysts have issued reports on the company. Zacks Investment Research raised CVR Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Morgan Stanley reaffirmed a “hold” rating on shares of CVR Partners in a research report on Thursday, June 16th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $9.14.
CVR Partners Company Profile
CVR Partners, LP owns and operates nitrogen fertilizer business. The Company produces and distributes nitrogen fertilizer products. The Company operates through the United States segment. Its principal products are urea-ammonium nitrate (UAN) and ammonia. The Company’s products are manufactured at its nitrogen fertilizer manufacturing facility in Coffeyville, Kansas, that utilizes a petroleum coke, or pet coke, gasification process to produce nitrogen fertilizer.
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