Azarias Capital Management L.P. Reduces Stock Holdings in Intrepid Potash, Inc (NYSE:IPI)

Azarias Capital Management L.P. reduced its holdings in Intrepid Potash, Inc (NYSE:IPI - Free Report) by 63.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 239,380 shares of the basic materials company's stock after selling 418,084 shares during the period. Intrepid Potash accounts for about 3.9% of Azarias Capital Management L.P.'s portfolio, making the stock its 5th largest holding. Azarias Capital Management L.P. owned about 1.81% of Intrepid Potash worth $7,035,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC grew its position in shares of Intrepid Potash by 4.5% in the 4th quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company's stock valued at $14,423,000 after acquiring an additional 28,500 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Intrepid Potash by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 234,908 shares of the basic materials company's stock worth $5,151,000 after buying an additional 3,314 shares during the period. American Century Companies Inc. raised its stake in Intrepid Potash by 0.3% in the 4th quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company's stock worth $4,074,000 after purchasing an additional 577 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Intrepid Potash by 577.1% in the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock worth $3,336,000 after purchasing an additional 129,722 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Intrepid Potash by 110.1% during the 4th quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company's stock worth $2,452,000 after acquiring an additional 58,630 shares during the period. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 15,476 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $30.58, for a total value of $473,256.08. Following the transaction, the insider now owns 1,123,230 shares in the company, valued at approximately $34,348,373.40. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 107,248 shares of company stock valued at $3,851,630 over the last three months. 2.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IPI. Wall Street Zen upgraded shares of Intrepid Potash from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. UBS Group reduced their target price on shares of Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a report on Wednesday, April 16th.

Intrepid Potash Trading Down 2.8%

Shares of IPI traded down $1.07 during trading hours on Friday, reaching $36.71. 158,917 shares of the stock traded hands, compared to its average volume of 126,775. The company has a market cap of $488.99 million, a price-to-earnings ratio of -2.31 and a beta of 1.76. The stock has a fifty day simple moving average of $35.18 and a 200 day simple moving average of $29.04. Intrepid Potash, Inc has a 52 week low of $20.75 and a 52 week high of $39.01.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its earnings results on Monday, May 5th. The basic materials company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.51. Intrepid Potash had a negative net margin of 75.09% and a positive return on equity of 0.31%. The firm had revenue of $97.76 million during the quarter, compared to analyst estimates of $72.34 million. Analysts predict that Intrepid Potash, Inc will post -0.17 earnings per share for the current fiscal year.

About Intrepid Potash

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.