Janney Montgomery Scott LLC Purchases Shares of 58,085 Intrepid Potash, Inc $IPI

Key Points

• Janney Montgomery Scott LLC opened a new position in Intrepid Potash during the first quarter, buying 58,085 shares valued at about $2.48 million. The stake represented roughly 0.43% of the company.
• Other institutional investors also made moves in the stock, and overall 56.13% of Intrepid Potash is held by institutions and hedge funds. The article highlights a broader pattern of hedge fund interest in the company.
• Intrepid Potash recently reported better-than-expected earnings, posting $0.62 EPS versus the $0.48 estimate and revenue of $98.69 million versus expectations of $88.30 million. Despite that, analysts remain cautious, with an average rating of “Reduce” and a price target of $26.

Janney Montgomery Scott LLC acquired a new position in shares of Intrepid Potash, Inc (NYSE:IPI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,085 shares of the basic materials company's stock, valued at approximately $2,484,000. Janney Montgomery Scott LLC owned approximately 0.43% of Intrepid Potash at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its stake in Intrepid Potash by 668.1% in the fourth quarter. Signaturefd LLC now owns 914 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 795 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Intrepid Potash by 197.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company's stock worth $29,000 after purchasing an additional 544 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Intrepid Potash in the 4th quarter valued at $44,000. Tower Research Capital LLC TRC lifted its stake in shares of Intrepid Potash by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company's stock valued at $49,000 after buying an additional 607 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Intrepid Potash during the second quarter valued at about $54,000. 56.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Intrepid Potash from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 22nd. UBS Group raised their target price on Intrepid Potash from $25.00 to $26.00 and gave the company a "sell" rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Intrepid Potash has an average rating of "Reduce" and an average price target of $26.00.

Insider Transactions at Intrepid Potash

In other Intrepid Potash news, Director Lori A. Lancaster sold 4,800 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $45.24, for a total transaction of $217,152.00. Following the sale, the director owned 10,540 shares in the company, valued at $476,829.60. This trade represents a 31.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.30% of the company's stock.

Intrepid Potash Price Performance

IPI opened at $34.87 on Thursday. The firm has a market capitalization of $468.29 million, a P/E ratio of 32.90 and a beta of 1.24. Intrepid Potash, Inc has a one year low of $22.55 and a one year high of $50.34. The company has a fifty day moving average price of $37.23 and a 200-day moving average price of $36.19.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%.The business had revenue of $98.69 million during the quarter, compared to analysts' expectations of $88.30 million. On average, analysts expect that Intrepid Potash, Inc will post 1.62 earnings per share for the current year.

Intrepid Potash Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company's primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.

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