Raymond James Financial Services Advisors Inc. lowered its position in shares of Intrepid Potash, Inc. (NYSE:IPI – Get Rating) by 63.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,946 shares of the basic materials company's stock after selling 14,054 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.06% of Intrepid Potash worth $314,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of IPI. American Century Companies Inc. grew its stake in shares of Intrepid Potash by 67.1% during the first quarter. American Century Companies Inc. now owns 25,581 shares of the basic materials company's stock worth $2,101,000 after purchasing an additional 10,276 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Intrepid Potash in the first quarter valued at $604,000. MetLife Investment Management LLC boosted its stake in Intrepid Potash by 57.0% in the first quarter. MetLife Investment Management LLC now owns 5,611 shares of the basic materials company's stock valued at $461,000 after acquiring an additional 2,037 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Intrepid Potash by 26.2% in the first quarter. Panagora Asset Management Inc. now owns 7,022 shares of the basic materials company's stock valued at $577,000 after acquiring an additional 1,459 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Intrepid Potash by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 657,762 shares of the basic materials company's stock valued at $54,027,000 after acquiring an additional 28,419 shares in the last quarter. Institutional investors and hedge funds own 55.35% of the company's stock.
Get Intrepid Potash alerts:Wall Street Analysts Forecast Growth
IPI has been the subject of several research analyst reports. BMO Capital Markets decreased their price objective on shares of Intrepid Potash from $45.00 to $40.00 and set a "market perform" rating for the company in a research note on Friday, November 4th. UBS Group decreased their price objective on shares of Intrepid Potash from $38.00 to $29.00 and set a "sell" rating for the company in a research note on Wednesday, January 11th. Finally, StockNews.com initiated coverage on shares of Intrepid Potash in a research note on Wednesday, October 12th. They issued a "hold" rating for the company.
Intrepid Potash Stock Performance
Shares of NYSE:IPI opened at $32.36 on Friday. The company has a 50-day simple moving average of $31.92 and a 200-day simple moving average of $38.83. Intrepid Potash, Inc. has a one year low of $27.23 and a one year high of $121.72. The stock has a market capitalization of $436.50 million, a price-to-earnings ratio of 1.49 and a beta of 1.95.Intrepid Potash (NYSE:IPI – Get Rating) last announced its earnings results on Wednesday, November 2nd. The basic materials company reported $0.97 EPS for the quarter, missing analysts' consensus estimates of $1.55 by ($0.58). Intrepid Potash had a net margin of 85.23% and a return on equity of 11.05%. The business had revenue of $66.96 million during the quarter, compared to analysts' expectations of $69.88 million. As a group, research analysts forecast that Intrepid Potash, Inc. will post 6.27 EPS for the current fiscal year.
Intrepid Potash Profile
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Intrepid Potash, Inc engages in the delivery of potassium, magnesium, sulfur, and salt essential. The firm serves the agriculture, organics, animal feed, industrial, and oilfield solutions industries. It operates through the following segments: Potash, Oilfield Solutions, and Trio. The company was founded in January 2000 and is headquartered in Denver, CO.
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