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Carl Icahn, a prominent investor and ten percent owner of CVR Partners, LP (NYSE:UAN), has recently increased his stake in the company. According to a recent filing, Icahn purchased a total of 12,434 common units of CVR Partners over three transactions conducted on April 3, April 4, and April 7, 2025. The acquisition was made at prices ranging from $66.65 to $74.98 per unit, amounting to a total investment of $855,580. The timing is notable as the stock has declined 13% in the past week and currently trades near its 52-week low, while offering an attractive 10.7% dividend yield. InvestingPro analysis indicates the stock is currently undervalued.
These transactions were carried out under a Rule 10b5-1 trading plan adopted on December 20, 2024, as disclosed in the filing. Following these purchases, Icahn's total holdings in CVR Partners now stand at 219,620 common units. The transactions highlight Icahn's continued interest in the company, which operates in the agriculture chemicals sector and maintains a "GREAT" financial health score according to InvestingPro, which offers 8 additional key insights about the company's potential.
In other recent news, CVR Partners LP reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $1.73. The company's revenue for the quarter was $139.56 million, closely aligning with projections. This performance highlights CVR Partners' strong operational efficiency and effective cost management. Additionally, the company announced a distribution of $1.75 per common unit. CVR Partners' net income for the quarter was $18 million, and the EBITDA reached $50 million. Looking ahead, the company projects maintenance capital spending between $35 million and $45 million for 2025, along with growth capital spending ranging from $20 million to $25 million. The company anticipates strong demand for nitrogen fertilizer in the upcoming spring application season. Mark Pytosh, CEO of CVR Partners, noted the tight global urea market and its impact on the company's strategic positioning.
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