Raymond James Financial Inc. Buys New Shares in Intrepid Potash, Inc. (NYSE:IPI)

Raymond James Financial Inc. bought a new stake in Intrepid Potash, Inc. (NYSE:IPI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,901 shares of the basic materials company's stock, valued at approximately $1,028,000. Raymond James Financial Inc. owned about 0.35% of Intrepid Potash at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Intrepid Potash by 0.8% during the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company's stock worth $5,560,000 after purchasing an additional 1,732 shares during the last quarter. Barclays PLC lifted its position in shares of Intrepid Potash by 282.6% during the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company's stock worth $344,000 after purchasing an additional 10,599 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Intrepid Potash by 577.1% during the fourth quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock valued at $3,336,000 after purchasing an additional 129,722 shares during the last quarter. Azarias Capital Management L.P. raised its position in Intrepid Potash by 7.4% in the 4th quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company's stock worth $14,412,000 after purchasing an additional 45,446 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in 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 worth $14,423,000 after buying an additional 28,500 shares in the last quarter. 56.13% of the stock is owned by institutional investors and hedge funds.

Intrepid Potash Stock Performance

NYSE:IPI traded up $0.01 during trading hours on Friday, hitting $37.95. The stock had a trading volume of 304,577 shares, compared to its average volume of 116,946. The business's 50 day moving average is $29.63 and its 200-day moving average is $26.97. The company has a market cap of $505.38 million, a price-to-earnings ratio of -11.33 and a beta of 1.80. Intrepid Potash, Inc. has a one year low of $20.75 and a one year high of $38.87.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its earnings results on Monday, May 5th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $72.34 million. On average, sell-side analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IPI shares. UBS Group decreased their price target on Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a report on Wednesday, April 16th. StockNews.com raised shares of Intrepid Potash from a "sell" rating to a "hold" rating in a report on Tuesday.

Insiders Place Their Bets

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 57,441 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.84, for a total transaction of $1,484,275.44. Following the completion of the transaction, the insider now owns 1,227,559 shares in the company, valued at approximately $31,720,124.56. This represents a 4.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 229,872 shares of company stock worth $6,866,175. Company insiders own 18.00% of the company's stock.

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.