Lazard Asset Management LLC Takes Position in Intrepid Potash, Inc. (NYSE:IPI)

Lazard Asset Management LLC acquired a new stake in Intrepid Potash, Inc. (NYSE:IPI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,009 shares of the basic materials company's stock, valued at approximately $153,000. Lazard Asset Management LLC owned approximately 0.05% of Intrepid Potash as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Intrepid Potash by 577.1% in the fourth quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock valued at $3,336,000 after acquiring an additional 129,722 shares in the last quarter. Azarias Capital Management L.P. boosted its stake in shares of Intrepid Potash by 7.4% during the 4th quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company's stock valued at $14,412,000 after buying an additional 45,446 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Intrepid Potash by 25.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 79,162 shares of the basic materials company's stock valued at $1,735,000 after buying an additional 16,018 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Intrepid Potash during the 4th quarter valued at approximately $1,028,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of Intrepid Potash by 4.5% during 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 buying an additional 28,500 shares during the last quarter. Institutional investors and hedge funds own 56.13% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on IPI. Wall Street Zen upgraded Intrepid Potash from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. UBS Group reduced their price objective on Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a research note on Wednesday, April 16th.

Intrepid Potash Price Performance

IPI traded down $0.30 during trading hours on Thursday, hitting $37.27. 31,942 shares of the stock were exchanged, compared to its average volume of 184,537. The stock has a 50-day simple moving average of $32.11 and a 200-day simple moving average of $27.91. Intrepid Potash, Inc. has a 12 month low of $20.75 and a 12 month high of $39.01. The stock has a market cap of $496.26 million, a price-to-earnings ratio of -11.12 and a beta of 1.80.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.51. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The firm had revenue of $97.76 million for the quarter, compared to analysts' expectations of $72.34 million. Sell-side analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Insider Activity

In other news, major shareholder Robert P. Jornayvaz III sold 47,429 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $26.54, for a total transaction of $1,258,765.66. Following the completion of the transaction, the insider now owns 1,164,794 shares of the company's stock, valued at approximately $30,913,632.76. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 180,765 shares of company stock valued at $5,858,599. 2.40% of the stock is currently owned by company insiders.

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.