Royce & Associates LP Invests $2.20 Million in Intrepid Potash, Inc (NYSE:IPI)

Royce & Associates LP acquired a new stake in Intrepid Potash, Inc (NYSE:IPI - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 75,000 shares of the basic materials company's stock, valued at approximately $2,204,000. Royce & Associates LP owned 0.56% of Intrepid Potash as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. New York State Teachers Retirement System acquired a new stake in shares of Intrepid Potash in the 1st quarter valued at approximately $29,000. State of Wyoming bought a new position in Intrepid Potash during the 4th quarter worth $46,000. BNP Paribas Financial Markets bought a new position in Intrepid Potash during the 4th quarter worth $87,000. FNY Investment Advisers LLC bought a new position in Intrepid Potash during the 1st quarter worth $102,000. Finally, Aquatic Capital Management LLC increased its position in Intrepid Potash by 274.3% during the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company's stock worth $123,000 after buying an additional 4,114 shares during the period. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Intrepid Potash Trading Down 1.8%

IPI stock traded down $0.59 during trading on Friday, hitting $32.69. The company had a trading volume of 115,507 shares, compared to its average volume of 174,492. The business has a 50-day moving average of $36.04 and a 200-day moving average of $31.40. Intrepid Potash, Inc has a one year low of $20.75 and a one year high of $39.01. The stock has a market cap of $435.29 million, a PE ratio of -2.05 and a beta of 1.72.

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

Insider Buying and Selling at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $37.66, for a total transaction of $2,248,339.66. Following the transaction, the insider directly owned 1,044,162 shares of the company's stock, valued at $39,323,140.92. This represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 135,806 shares of company stock worth $4,922,413 over the last quarter. 2.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

IPI has been the topic of a number of recent analyst reports. UBS Group raised their price target on Intrepid Potash from $21.00 to $24.00 and gave the stock a "sell" rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Intrepid Potash from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th.

Intrepid Potash Profile

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.