Nucor earnings beat by $0.08, revenue fell short of estimates
Carl Icahn, a prominent investor and a significant stakeholder in CVR Partners, LP (NYSE:UAN), recently increased his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Icahn acquired a total of 1,238 common units of CVR Partners over two days. The company, currently valued at $793 million, has maintained a strong financial profile with a GOOD health score according to InvestingPro analysis, and offers an attractive 9.3% dividend yield.
On March 25, Icahn purchased 1,058 units at a price of $75.00 each, followed by an additional 180 units on March 26 at the same price. The total value of these transactions amounted to $92,850. After these purchases, Icahn’s total holdings in the company stand at 201,696 common units. Trading at a P/E ratio of 13, InvestingPro analysis suggests the stock is currently undervalued relative to its Fair Value.
These transactions were carried out under a pre-established Rule 10b5-1 trading plan, which was adopted on December 20, 2024. This plan allows insiders of publicly traded corporations to set up a trading plan for selling stocks they own by setting a predetermined schedule.
Icahn’s investment activities continue to be of interest to market observers, given his reputation for significant influence in the companies he invests in.
In other recent news, CVR Partners LP reported its fourth-quarter 2024 earnings, exceeding 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. CVR Partners demonstrated strong operational efficiency, achieving net sales of $140 million and a net income of $18 million. The company also declared a distribution of $1.75 per common unit. Looking ahead, CVR Partners projects maintenance capital spending between $35 million and $45 million for 2025, with growth capital spending estimated at $20 million to $25 million.
Additionally, the company anticipates strong demand for nitrogen fertilizer in the upcoming spring season, with an estimated ammonia utilization rate of 95-100% for the first quarter of 2025. CEO Mark Pytosh emphasized the tight global urea market, noting that urea prices have risen significantly. The company is also exploring a dual-fuel project at its Coffeyville facility, which could allow flexibility in feedstock usage. This project is currently under construction design planning and is pending board approval for execution.
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