The Manufacturers Life Insurance Company boosted its holdings in shares of Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 191.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,166 shares of the basic materials company's stock after purchasing an additional 48,068 shares during the period. The Manufacturers Life Insurance Company owned about 0.55% of Intrepid Potash worth $1,604,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of IPI. Aquatic Capital Management LLC grew 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 acquiring an additional 4,114 shares during the last quarter. Jump Financial LLC acquired a new position in Intrepid Potash in the 4th quarter valued at approximately $227,000. Barclays PLC raised its stake in shares of Intrepid Potash by 16.2% during the fourth quarter. Barclays PLC now owns 16,672 shares of the basic materials company's stock valued at $366,000 after acquiring an additional 2,322 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Intrepid Potash in the fourth quarter worth $1,028,000. Finally, Renaissance Technologies LLC lifted its holdings in Intrepid Potash by 110.1% during the 4th quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company's stock worth $2,452,000 after buying an additional 58,630 shares during the period. Institutional investors and hedge funds own 56.13% of the company's stock.
Intrepid Potash Stock Up 0.7%
Intrepid Potash stock traded up $0.26 during trading hours on Wednesday, reaching $36.57. 257,245 shares of the company's stock were exchanged, compared to its average volume of 118,451. The firm's 50 day simple moving average is $30.02 and its 200 day simple moving average is $27.12. Intrepid Potash, Inc. has a twelve month low of $20.75 and a twelve month high of $38.87. The firm has a market capitalization of $487.00 million, a PE ratio of -10.92 and a beta of 1.80.
Intrepid Potash (NYSE:IPI - Get Free Report) last released its earnings results on Monday, May 5th. The basic materials company reported $0.39 EPS 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 business had revenue of $97.76 million during the quarter, compared to analysts' expectations of $72.34 million. Analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on IPI. UBS Group reduced their target price 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 research note on Tuesday, May 6th.
Read Our Latest Analysis on Intrepid Potash
Insider Transactions at Intrepid Potash
In related news, major shareholder Robert P. Jornayvaz III sold 8,984 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $30.56, for a total value of $274,551.04. Following the transaction, the insider now directly owns 1,105,545 shares in the company, valued at $33,785,455.20. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 229,872 shares of company stock valued at $6,866,175 in the last quarter. 18.00% of the stock is currently owned by company insiders.
Intrepid Potash Company Profile
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Free Report)
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.
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