Carl Icahn, a well known investor, just lately elevated his stake in CVR Companions, LP (NYSE:) via a sequence of transactions. In response to a current SEC submitting, Icahn bought a complete of 11,589 frequent models over three days, from December 18 to December 20, 2024. The models had been acquired at costs starting from $73.99 to $74.55 per share, which represents a complete funding of $860,177. InvestPro The evaluation reveals that the corporate at present affords a considerable dividend yield of 6.5% and maintains an “Glorious” total monetary well being rating, with seven key ProTips obtainable to subscribers.
The transactions had been made not directly via entities related to Icahn, together with American Leisure Properties Corp. and IEP Power Holding LLC. Following these acquisitions, Icahn’s complete possession curiosity in CVR Companions is 162,457 frequent models. The transfer is a part of Icahn’s technique to consolidate his place in companies the place he sees potential for worth creation. In response to InvestPro In response to the info, the corporate seems undervalued based mostly on its honest worth evaluation, with sturdy fundamentals together with a wholesome present ratio of two.15 and spectacular year-to-date returns of twenty-two .58%.
Individually, CVR Companions, an agricultural chemical compounds firm, introduced essential monetary outcomes and govt compensation particulars. The corporate reported monetary outcomes for the third quarter with web income of $125 million, web earnings of $4 million and EBITDA of $36 million. Additionally they reported a distribution of $1.19 per frequent unit, reflecting sturdy operational efficiency with ammonia plant utilization reaching 97%.
Along with the monetary outcomes, CVR Companions disclosed a brand new employment contract with Government Chairman David L. Lamp. The settlement, which takes impact January 1, 2025, will increase Mr. Lamp’s annual base wage from $1.1 million to $1.2 million and gives severance and employment awards. a long-term incentive plan. This contract is a part of a broader company settlement between CVR Companions and CVR Power (NYSE:), the guardian firm.
CVR Companions additionally offered an outlook for the fourth quarter of 2024, projecting an ammonia utilization charge between 92% and 97% and estimating direct working bills between $60 million and $70 million. Whole (EPA:) capital expenditures for a similar interval are anticipated to be between $19 million and $23 million. These current developments exhibit CVR Companions’ dedication to operational effectivity and market responsiveness.
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