Carl Icahn & Associates earned $535,706 in CVR Partners shares By Investing.com

Carl Icahn, from affiliates IEP Energy Holding LLC and American Entertainment Properties Corp. with increased their stake in CVR Partners, LP (NYSE: ) the $794 million market cap company, following a series of purchases totaling $535,706. The transactions, disclosed in a recent SEC filing, occurred over several days in December, with unit prices ranging from $74.36 to $74.92. As he says Invest ProThe company maintains a “great” financial health score of 3.15 out of 5.

The acquisitions were made through indirect ownership and the common units are owned by American Entertainment Properties Corporation. This acquisition represents Icahn’s continued interest in CVR Partners, a company that manufactures nitrogen fertilizer products. The company currently offers an attractive dividend yield of 6.3% and accordingly the price looks low Invest ProFair value analysis.

After these transactions, the total number of shares held by the reporting agents increased, although a specific post-transaction share count was not disclosed in the filing. The statement also highlighted the complex ownership structure of the entities involved. Icahn Enterprises (NASDAQ:) Holdings LP to be a significant shareholder.

These transactions highlight Carl Icahn’s active role as a major investor in the company, using his considerable influence in various holding companies.

In other recent news, CVR Partners announced executive compensation details in a regulatory filing. The new agreement, effective Jan. 1, 2025, will increase executive chairman David L. Lamp’s annual salary from $1.1 million to $1.2 million annually, plus an annual cash bonus and long-term incentive plan award. The terms also include severance pay, termination for cause or termination without notice.

This employment agreement is part of a broader corporate master services agreement between CVR Partners and its parent company, CVR Energy (NYSE: ). The company released its financial results for the third quarter of 2024, reporting net sales of $125 million, net income of $4 million and EBITDA of $36 million. A distribution of $1.19 per common share was announced, reflecting strong operating performance as the ammonia plant reached 97 percent utilization.

Looking forward, CVR Partners estimates fourth quarter 2024 ammonia utilization rates to be between 92% and 97%. Direct operating costs are expected to be between $60 million and $70 million, and total capital expenditures are expected to be between $19 million and $23 million. Despite an unplanned downtime in refining units that affected UN sales, the company saw an increase in ammonia and UN prices.

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