Summit Global Investments Purchases 10,808 Shares of Phibro Animal Health Co. (NASDAQ:PAHC)

Summit Global Investments increased its position in Phibro Animal Health Co. (NASDAQ:PAHC - Free Report) by 39.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,989 shares of the company's stock after purchasing an additional 10,808 shares during the period. Summit Global Investments owned approximately 0.09% of Phibro Animal Health worth $811,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PAHC. Sterling Capital Management LLC lifted its stake in Phibro Animal Health by 2.4% during the 4th quarter. Sterling Capital Management LLC now owns 18,762 shares of the company's stock valued at $394,000 after acquiring an additional 448 shares during the period. Rhumbline Advisers increased its position in shares of Phibro Animal Health by 0.6% during the 4th quarter. Rhumbline Advisers now owns 76,582 shares of the company's stock valued at $1,608,000 after purchasing an additional 484 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Phibro Animal Health by 2.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 24,042 shares of the company's stock valued at $505,000 after purchasing an additional 503 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Phibro Animal Health by 16.7% during the 4th quarter. New York State Teachers Retirement System now owns 5,428 shares of the company's stock valued at $114,000 after purchasing an additional 775 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Phibro Animal Health by 7.4% during the 4th quarter. SG Americas Securities LLC now owns 13,162 shares of the company's stock valued at $276,000 after purchasing an additional 906 shares during the last quarter. Institutional investors own 99.34% of the company's stock.

Analyst Upgrades and Downgrades

PAHC has been the subject of several research reports. Barclays upped their price target on shares of Phibro Animal Health from $20.00 to $22.00 and gave the company an "underweight" rating in a research report on Monday, February 10th. Wall Street Zen raised shares of Phibro Animal Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Morgan Stanley increased their target price on shares of Phibro Animal Health from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.00.

Phibro Animal Health Stock Performance

Phibro Animal Health stock traded down $0.09 during midday trading on Wednesday, hitting $24.11. The stock had a trading volume of 60,729 shares, compared to its average volume of 202,206. The firm's fifty day moving average is $20.64 and its two-hundred day moving average is $21.87. The company has a market capitalization of $977.27 million, a PE ratio of 50.23, a P/E/G ratio of 0.45 and a beta of 0.62. Phibro Animal Health Co. has a 52-week low of $16.16 and a 52-week high of $26.55. The company has a current ratio of 3.20, a quick ratio of 1.37 and a debt-to-equity ratio of 2.99.

Phibro Animal Health (NASDAQ:PAHC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.11. Phibro Animal Health had a net margin of 1.75% and a return on equity of 25.35%. The business had revenue of $347.80 million during the quarter, compared to analyst estimates of $352.41 million. On average, research analysts forecast that Phibro Animal Health Co. will post 1.95 EPS for the current year.

Phibro Animal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, June 4th. Phibro Animal Health's dividend payout ratio (DPR) is presently 61.54%.

Phibro Animal Health Company Profile

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.