KLP Kapitalforvaltning AS Sells 40,500 Shares of Phibro Animal Health Corporation (NASDAQ:PAHC)

Key Points

• KLP Kapitalforvaltning AS drastically reduced its stake in Phibro Animal Health Corporation by 90.6% in the first quarter, now holding only 4,200 shares valued at $90,000.
• Phibro Animal Health reported a Q1 earnings per share of $0.63, surpassing analysts' estimates of $0.52, but revenue was slightly below expectations at $347.80 million.
• The company declared a quarterly dividend of $0.12 per share, representing an annual yield of 1.8%, with the next payout scheduled for September 24.

KLP Kapitalforvaltning AS decreased its holdings in Phibro Animal Health Corporation (NASDAQ:PAHC - Free Report) by 90.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,200 shares of the company's stock after selling 40,500 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Phibro Animal Health were worth $90,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Phibro Animal Health during the 4th quarter worth approximately $1,103,000. Sei Investments Co. boosted its position in Phibro Animal Health by 3.5% during the fourth quarter. Sei Investments Co. now owns 161,667 shares of the company's stock worth $3,395,000 after purchasing an additional 5,436 shares during the period. LPL Financial LLC boosted its position in shares of Phibro Animal Health by 66.9% in the fourth quarter. LPL Financial LLC now owns 87,446 shares of the company's stock valued at $1,836,000 after acquiring an additional 35,053 shares during the period. Vanguard Group Inc. boosted its position in shares of Phibro Animal Health by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,514,736 shares of the company's stock valued at $31,809,000 after acquiring an additional 20,604 shares during the period. Finally, Prudential Financial Inc. raised its stake in Phibro Animal Health by 405.8% during the fourth quarter. Prudential Financial Inc. now owns 120,655 shares of the company's stock worth $2,534,000 after acquiring an additional 96,800 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley set a $26.00 target price on Phibro Animal Health and gave the company an "equal weight" rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. upgraded Phibro Animal Health from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $25.00 to $35.00 in a report on Monday, July 7th. BNP Paribas raised Phibro Animal Health to a "hold" rating in a research report on Monday, June 16th. Wall Street Zen raised Phibro Animal Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, BNP Paribas Exane raised Phibro Animal Health from an "underperform" rating to a "neutral" rating and set a $24.00 price objective for the company in a report on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $24.40.

Phibro Animal Health Stock Performance

Shares of Phibro Animal Health stock traded up $0.65 during trading on Monday, hitting $26.76. 68,422 shares of the company's stock traded hands, compared to its average volume of 259,052. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.91 and a quick ratio of 1.23. The stock has a market capitalization of $1.08 billion, a P/E ratio of 34.30, a PEG ratio of 0.44 and a beta of 0.80. The business has a 50-day simple moving average of $26.70 and a 200-day simple moving average of $23.32. Phibro Animal Health Corporation has a 1 year low of $16.16 and a 1 year high of $31.80.

Phibro Animal Health (NASDAQ:PAHC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.11. The business had revenue of $347.80 million for the quarter, compared to analysts' expectations of $352.41 million. Phibro Animal Health had a return on equity of 30.51% and a net margin of 2.68%. As a group, analysts forecast that Phibro Animal Health Corporation will post 1.95 EPS for the current year.

Phibro Animal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 3rd. Phibro Animal Health's dividend payout ratio (DPR) is presently 61.54%.

About Phibro Animal Health

Phibro Animal Health Corporation operates as an animal health and mineral nutrition company in the United States, Israel, Brazil, Ireland, and internationally. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets various products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs.