Bullish indicating open at $55-$60, IPO prices at $37
In a recent series of transactions, Carl C. Icahn, a well-known investor and the principal behind Icahn Enterprises (NASDAQ:IEP), made notable acquisitions of common units in CVR Partners, LP (NYSE:UAN). According to a filing with the Securities and Exchange Commission, Icahn purchased a total of 18,213 common units over three days, from April 8 to April 10, 2025. The transactions were executed at prices ranging from $68.12 to $68.64 per unit, culminating in a total expenditure of approximately $1.24 million. The timing is particularly interesting as the stock has experienced a nearly 10% decline over the past week, while maintaining an attractive 10.3% dividend yield, according to InvestingPro data.
These acquisitions were conducted under a Rule 10b5-1 trading plan adopted in December 2024, allowing for pre-planned trading of securities. Following these transactions, Icahn's direct holdings in CVR Partners increased to 237,833 common units. The purchases were made through entities controlled by Icahn, who is a significant stakeholder in the company. InvestingPro analysis shows CVR Partners maintains strong financial health with a "GREAT" overall score and robust liquidity, with current assets more than double its short-term obligations. For deeper insights into CVR Partners' valuation and 6 additional ProTips, consider accessing the comprehensive Pro Research Report available on InvestingPro.
In other recent news, CVR Partners 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, aligning closely with projections. This performance highlights the firm's operational efficiency and effective cost management. Additionally, CVR Partners announced a distribution of $1.75 per common unit. In terms of market analysis, Baird and Granite Research analysts discussed the company's market trends and supply-demand dynamics during the earnings call. The company anticipates strong demand for nitrogen fertilizer in the upcoming spring application season, with an estimated ammonia utilization rate of 95-100% for the first quarter of 2025. Furthermore, CVR Partners is planning maintenance and growth capital spending for 2025, estimating $35-45 million and $20-25 million, respectively. These recent developments reflect the company's strategic focus on maintaining robust operational performance and meeting market demands.
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