LPL Financial LLC Has $2.74 Million Position in Phibro Animal Health Corporation $PAHC

Key Points

• LPL Financial LLC increased its stake in Phibro Animal Health Corporation by 46.8% in Q1, owning 128,335 shares worth approximately $2.74 million.
• Phibro Animal Health recently announced a quarterly dividend of $0.12, representing an annualized dividend yield of 1.6%.
• JPMorgan Chase & Co. upgraded the stock from a "neutral" to an "overweight" rating, raising the target price from $25.00 to $35.00.

LPL Financial LLC lifted its holdings in Phibro Animal Health Corporation (NASDAQ:PAHC - Free Report) by 46.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,335 shares of the company's stock after acquiring an additional 40,889 shares during the quarter. LPL Financial LLC owned approximately 0.32% of Phibro Animal Health worth $2,741,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Phibro Animal Health in the 4th quarter worth approximately $29,000. Lazard Asset Management LLC increased its stake in shares of Phibro Animal Health by 2,739.7% in the fourth quarter. Lazard Asset Management LLC now owns 1,647 shares of the company's stock valued at $34,000 after buying an additional 1,589 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Phibro Animal Health in the fourth quarter valued at $69,000. Virtus Fund Advisers LLC acquired a new stake in shares of Phibro Animal Health in the fourth quarter valued at $69,000. Finally, Curat Global LLC acquired a new stake in shares of Phibro Animal Health in the first quarter valued at $146,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PAHC. Wall Street Zen upgraded Phibro Animal Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. upgraded Phibro Animal Health from a "neutral" rating to an "overweight" rating and raised their target price for the company from $25.00 to $35.00 in a research note on Monday, July 7th. Morgan Stanley set a $26.00 target price on Phibro Animal Health and gave the company an "equal weight" rating in a research note on Wednesday, June 25th. BNP Paribas upgraded Phibro Animal Health to a "hold" rating in a research note on Monday, June 16th. Finally, BNP Paribas Exane upgraded Phibro Animal Health from an "underperform" rating to a "neutral" rating and set a $24.00 target price for the company in a research note on Monday, June 16th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $24.40.

Phibro Animal Health Trading Up 2.9%

PAHC stock traded up $0.91 during midday trading on Friday, reaching $32.46. The stock had a trading volume of 194,402 shares, compared to its average volume of 251,943. The business has a fifty day simple moving average of $28.31 and a two-hundred day simple moving average of $24.11. The company has a quick ratio of 1.23, a current ratio of 2.91 and a debt-to-equity ratio of 2.67. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 41.62, a PEG ratio of 0.53 and a beta of 0.80. Phibro Animal Health Corporation has a twelve month low of $16.16 and a twelve month high of $32.95.

Phibro Animal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, September 3rd. Phibro Animal Health's payout ratio 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.