Intrepid Potash (NYSE:IPI) Director Sells $217,152.00 in Stock

Intrepid Potash, Inc (NYSE:IPI) Director Lori Lancaster sold 4,800 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $45.24, for a total value of $217,152.00. Following the completion of the sale, the director owned 10,540 shares in the company, valued at $476,829.60. This trade represents a 31.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Intrepid Potash Price Performance

Shares of NYSE:IPI opened at $41.94 on Friday. The company has a market capitalization of $563.19 million, a price-to-earnings ratio of 39.56 and a beta of 1.25. The business’s 50-day moving average is $40.69 and its 200-day moving average is $33.41. Intrepid Potash, Inc has a 1 year low of $22.55 and a 1 year high of $50.34.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $98.69 million for the quarter, compared to the consensus estimate of $88.30 million. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%. Analysts anticipate that Intrepid Potash, Inc will post 1.62 EPS for the current year.

Wall Street Analyst Weigh In

IPI has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on Intrepid Potash from $25.00 to $26.00 and gave the company a “sell” rating in a research note on Thursday. Weiss Ratings raised Intrepid Potash from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $26.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in Intrepid Potash by 27.8% during the 1st quarter. Quantinno Capital Management LP now owns 29,215 shares of the basic materials company’s stock worth $1,250,000 after buying an additional 6,355 shares during the period. Lazard Asset Management LLC acquired a new position in Intrepid Potash during the 1st quarter worth approximately $1,587,000. Caxton Associates LLP acquired a new position in Intrepid Potash during the 1st quarter worth approximately $751,000. Sei Investments Co. acquired a new position in Intrepid Potash during the 1st quarter worth approximately $992,000. Finally, Cetera Investment Advisers acquired a new position in Intrepid Potash during the 1st quarter worth approximately $645,000. 56.13% of the stock is owned by institutional investors and hedge funds.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.