Raymond James Financial Inc. Purchases New Holdings in Intrepid Potash, Inc. (NYSE:IPI)

Raymond James Financial Inc. purchased a new position in Intrepid Potash, Inc. (NYSE:IPI - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 46,901 shares of the basic materials company's stock, valued at approximately $1,028,000. Raymond James Financial Inc. owned approximately 0.35% of Intrepid Potash at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Intrepid Potash in the 4th quarter worth about $38,000. SG Americas Securities LLC grew its position in Intrepid Potash by 14.0% during the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company's stock valued at $148,000 after purchasing an additional 830 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Intrepid Potash in the 4th quarter valued at approximately $235,000. Wells Fargo & Company MN boosted its stake in shares of Intrepid Potash by 12.2% during the 4th quarter. Wells Fargo & Company MN now owns 13,652 shares of the basic materials company's stock valued at $299,000 after buying an additional 1,486 shares during the period. Finally, Barclays PLC grew its holdings in shares of Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company's stock valued at $344,000 after acquiring an additional 10,599 shares in the last quarter. 56.13% of the stock is owned by institutional investors and hedge funds.

Intrepid Potash Trading Down 0.8 %

NYSE IPI traded down $0.31 during trading on Wednesday, hitting $37.88. 322,753 shares of the company traded hands, compared to its average volume of 116,494. The company has a market capitalization of $504.59 million, a P/E ratio of -11.31 and a beta of 1.80. The business has a fifty day simple moving average of $29.09 and a 200 day simple moving average of $26.77. Intrepid Potash, Inc. has a 12 month low of $20.75 and a 12 month 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 for the quarter, topping the consensus estimate 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 analyst estimates of $72.34 million. Equities research analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 15,476 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.58, for a total transaction of $473,256.08. Following the completion of the transaction, the insider now directly owns 1,123,230 shares in the company, valued at $34,348,373.40. The trade was a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 170,171 shares of company stock worth $4,617,835. 18.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IPI shares. UBS Group lowered their target price on Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a research note on Wednesday, April 16th. StockNews.com upgraded Intrepid Potash from a "sell" rating to a "hold" rating in a report on Tuesday.

About Intrepid Potash

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.