Macquarie Group Ltd. bought a new stake in shares of Intrepid Potash, Inc. (NYSE:IPI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,600 shares of the basic materials company’s stock, valued at approximately $35,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in Intrepid Potash during the 4th quarter valued at $27,000. SG Americas Securities LLC purchased a new position in shares of Intrepid Potash in the 4th quarter valued at $34,000. Legal & General Group Plc increased its holdings in shares of Intrepid Potash by 24.1% in the 4th quarter. Legal & General Group Plc now owns 18,218 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 3,533 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Intrepid Potash in the 4th quarter valued at $65,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Intrepid Potash in the 4th quarter valued at $80,000. 44.45% of the stock is owned by institutional investors and hedge funds.
In other Intrepid Potash news, CEO Robert P. Jornayvaz III bought 13,900 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average cost of $3.67 per share, for a total transaction of $51,013.00. Following the purchase, the chief executive officer now directly owns 1,206,650 shares in the company, valued at $4,428,405.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Clearway Capital Management Lt bought 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The shares were acquired at an average price of $3.22 per share, for a total transaction of $644,000.00. The disclosure for this purchase can be found here. Company insiders own 27.80% of the company’s stock.
Shares of NYSE:IPI opened at $3.81 on Friday. Intrepid Potash, Inc. has a 12-month low of $2.51 and a 12-month high of $5.31. The firm has a market capitalization of $499.29 million, a PE ratio of 42.33 and a beta of 1.16. The company has a current ratio of 4.18, a quick ratio of 1.82 and a debt-to-equity ratio of 0.12.
Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Tuesday, March 12th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. Intrepid Potash had a return on equity of 3.00% and a net margin of 6.04%. The business had revenue of $34.90 million for the quarter, compared to the consensus estimate of $36.19 million. During the same period last year, the business posted ($0.03) EPS. The business’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Intrepid Potash, Inc. will post 0.19 EPS for the current year.
A number of research analysts have recently issued reports on IPI shares. Zacks Investment Research upgraded Intrepid Potash from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a report on Tuesday, January 22nd. TheStreet upgraded Intrepid Potash from a “c” rating to a “b-” rating in a report on Monday, April 8th. Finally, ValuEngine upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Intrepid Potash has an average rating of “Buy” and a consensus target price of $5.08.
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Intrepid Potash Profile
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
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