Schroder Investment Management Group trimmed its position in shares of Intrepid Potash, Inc. (NYSE:IPI) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 781,000 shares of the basic materials company’s stock after selling 80,000 shares during the period. Schroder Investment Management Group owned approximately 0.60% of Intrepid Potash worth $3,437,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Radnor Capital Management LLC boosted its holdings in Intrepid Potash by 87.1% during the second quarter. Radnor Capital Management LLC now owns 46,400 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 21,600 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Intrepid Potash by 12.3% in the second quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock valued at $131,000 after buying an additional 6,336 shares during the period. New York State Common Retirement Fund bought a new stake in shares of Intrepid Potash in the second quarter valued at about $132,000. LMR Partners LLP bought a new stake in shares of Intrepid Potash in the third quarter valued at about $155,000. Finally, Saratoga Research & Investment Management bought a new stake in shares of Intrepid Potash in the third quarter valued at about $157,000. Institutional investors own 47.99% of the company’s stock.
In related news, EVP James N. Whyte sold 86,796 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $3.84, for a total value of $333,296.64. Following the completion of the transaction, the executive vice president now owns 360,903 shares of the company’s stock, valued at $1,385,867.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 27.30% of the company’s stock.
Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, October 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. Intrepid Potash had a negative net margin of 22.88% and a negative return on equity of 8.09%. The firm had revenue of $32.06 million during the quarter, compared to analyst estimates of $33.15 million. During the same quarter in the prior year, the business posted ($0.22) earnings per share. The company’s quarterly revenue was down 26.5% compared to the same quarter last year. equities analysts predict that Intrepid Potash, Inc. will post -0.16 EPS for the current fiscal year.
Several research firms recently weighed in on IPI. Cowen reiterated a “sell” rating and issued a $3.50 target price on shares of Intrepid Potash in a research note on Friday, December 1st. Stephens began coverage on shares of Intrepid Potash in a research note on Monday, December 4th. They issued an “equal weight” rating and a $4.00 target price for the company. Finally, BMO Capital Markets increased their target price on shares of Intrepid Potash from $3.00 to $4.00 and gave the company a “market perform” rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $3.55.
Intrepid Potash Profile
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.
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