Federated Hermes Inc. Cuts Stock Position in Intrepid Potash, Inc. (NYSE:IPI)

Federated Hermes Inc. reduced its stake in Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 37.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 113,961 shares of the basic materials company's stock after selling 68,667 shares during the quarter. Federated Hermes Inc. owned 0.88% of Intrepid Potash worth $2,723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IPI. Azarias Capital Management L.P. boosted its holdings in shares of Intrepid Potash by 103.1% in the 3rd quarter. Azarias Capital Management L.P. now owns 432,875 shares of the basic materials company's stock worth $10,891,000 after buying an additional 219,713 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Intrepid Potash by 35.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 341,163 shares of the basic materials company's stock worth $8,584,000 after buying an additional 89,125 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Intrepid Potash in the 3rd quarter worth about $1,706,000. Foundry Partners LLC boosted its holdings in shares of Intrepid Potash by 13.0% in the 3rd quarter. Foundry Partners LLC now owns 143,391 shares of the basic materials company's stock worth $3,608,000 after buying an additional 16,540 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Intrepid Potash in the 3rd quarter worth about $255,000. 56.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Intrepid Potash to a "sell" rating in a report on Wednesday, January 24th.

Insider Buying and Selling at Intrepid Potash

In other Intrepid Potash news, CEO Robert P. Jornayvaz III sold 63,372 shares of the company's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $20.43, for a total value of $1,294,689.96. Following the completion of the sale, the chief executive officer now owns 1,542,551 shares of the company's stock, valued at $31,514,316.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Robert P. Jornayvaz III sold 5,384 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $19.35, for a total transaction of $104,180.40. Following the completion of the sale, the chief executive officer now owns 1,518,920 shares of the company's stock, valued at $29,391,102. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert P. Jornayvaz III sold 63,372 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $20.43, for a total value of $1,294,689.96. Following the sale, the chief executive officer now directly owns 1,542,551 shares of the company's stock, valued at approximately $31,514,316.93. The disclosure for this sale can be found here. Insiders have sold a total of 96,034 shares of company stock valued at $1,939,525 over the last three months. 18.00% of the stock is currently owned by insiders.

Intrepid Potash Stock Performance

NYSE IPI traded down $0.07 during trading on Friday, hitting $19.53. 63,092 shares of the company's stock traded hands, compared to its average volume of 97,495. The stock has a market capitalization of $258.97 million, a price-to-earnings ratio of -7.00 and a beta of 2.18. Intrepid Potash, Inc. has a 12-month low of $17.23 and a 12-month high of $28.30. The business has a 50 day moving average of $20.24 and a 200-day moving average of $20.44.

Intrepid Potash (NYSE:IPI - Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The basic materials company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.20). The business had revenue of $49.04 million for the quarter, compared to analysts' expectations of $41.63 million. Intrepid Potash had a negative net margin of 12.78% and a negative return on equity of 0.43%. On average, analysts expect that Intrepid Potash, Inc. will post -0.07 EPS for the current year.

Intrepid Potash Company 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.