The Manufacturers Life Insurance Company decreased its position in Intrepid Potash, Inc. (NYSE:IPI – Get Rating) by 52.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,501 shares of the basic materials company's stock after selling 46,160 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.31% of Intrepid Potash worth $1,682,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of IPI. Capital International Investors bought a new position in Intrepid Potash in the 1st quarter worth about $33,390,000. PointState Capital LP bought a new position in Intrepid Potash in the 1st quarter worth about $30,649,000. Millennium Management LLC bought a new position in Intrepid Potash in the 2nd quarter worth about $9,020,000. Assenagon Asset Management S.A. grew its position in Intrepid Potash by 165.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,817 shares of the basic materials company's stock worth $12,259,000 after purchasing an additional 192,897 shares during the last quarter. Finally, Invesco Ltd. grew its position in Intrepid Potash by 878.0% in the 1st quarter. Invesco Ltd. now owns 151,361 shares of the basic materials company's stock worth $12,433,000 after purchasing an additional 135,885 shares during the last quarter. Institutional investors own 55.35% of the company's stock.
Get Intrepid Potash alerts:Analyst Ratings Changes
Several research analysts have commented on IPI shares. StockNews.com began coverage on shares of Intrepid Potash in a research report on Wednesday, October 12th. They issued a "hold" rating for the company. 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 report on Wednesday, January 11th. Finally, 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 report on Friday, November 4th.
Intrepid Potash Price Performance
Intrepid Potash stock opened at $33.01 on Friday. The firm has a 50 day simple moving average of $31.61 and a 200-day simple moving average of $38.62. The stock has a market capitalization of $445.30 million, a PE ratio of 1.52 and a beta of 2.03. Intrepid Potash, Inc. has a 12-month low of $27.23 and a 12-month high of $121.72.Intrepid Potash (NYSE:IPI – Get Rating) last released its earnings results on Wednesday, November 2nd. The basic materials company reported $0.97 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $69.88 million. On average, analysts forecast that Intrepid Potash, Inc. will post 6.27 earnings per share for the current fiscal year.
About Intrepid Potash
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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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