Brandywine Global Investment Management LLC Purchases New Shares in Intrepid Potash, Inc $IPI

Key Points

• Brandywine Global Investment Management LLC has acquired 48,140 shares of Intrepid Potash, valued at approximately $1,415,000, now holding 0.36% of the company.
• Several institutional investors have increased their stakes in Intrepid Potash, with JPMorgan Chase & Co. making a notable increase of 577.1% in the 4th quarter.
• Intrepid Potash recently reported a quarterly EPS of $0.45, exceeding analysts' expectations, alongside a revenue of $71.47 million.

Brandywine Global Investment Management LLC bought a new stake in Intrepid Potash, Inc (NYSE:IPI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 48,140 shares of the basic materials company's stock, valued at approximately $1,415,000. Brandywine Global Investment Management LLC owned 0.36% of Intrepid Potash as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Intrepid Potash by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 234,908 shares of the basic materials company's stock valued at $5,151,000 after buying an additional 3,314 shares during the period. Goehring & Rozencwajg Associates LLC increased its stake in shares of Intrepid Potash by 2.2% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 213,977 shares of the basic materials company's stock valued at $6,205,000 after buying an additional 4,615 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Intrepid Potash by 577.1% in the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock valued at $3,336,000 after buying an additional 129,722 shares during the period. Renaissance Technologies LLC increased its stake in shares of Intrepid Potash by 110.1% in the 4th quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company's stock valued at $2,452,000 after buying an additional 58,630 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Intrepid Potash by 3.0% in the 4th quarter. Northern Trust Corp now owns 89,566 shares of the basic materials company's stock valued at $1,963,000 after buying an additional 2,621 shares during the period. 56.13% of the stock is owned by institutional investors and hedge funds.

Intrepid Potash Stock Down 0.0%

Shares of Intrepid Potash stock opened at $28.17 on Tuesday. Intrepid Potash, Inc has a 12 month low of $20.86 and a 12 month high of $39.01. The business has a fifty day simple moving average of $34.22 and a 200 day simple moving average of $31.71. The stock has a market cap of $375.25 million, a PE ratio of -1.81 and a beta of 1.78.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.28. Intrepid Potash had a positive return on equity of 1.48% and a negative net margin of 71.13%. The business had revenue of $71.47 million during the quarter, compared to analysts' expectations of $56.14 million. Analysts expect that Intrepid Potash, Inc will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen raised Intrepid Potash from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. UBS Group lowered their target price on Intrepid Potash from $24.00 to $23.00 and set a "sell" rating for the company in a research note on Thursday, August 7th.

Insider Activity at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 53,035 shares of Intrepid Potash stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $34.30, for a total transaction of $1,819,100.50. Following the completion of the sale, the insider directly owned 3,950 shares of the company's stock, valued at $135,485. The trade was a 93.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 53,118 shares of company stock worth $1,822,175 over the last ninety days. 2.40% of the stock is owned by insiders.

Intrepid Potash Company Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.

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