Steward Partners Investment Advisory LLC Acquires 416 Shares of Intrepid Potash, Inc. (NYSE:IPI)

Steward Partners Investment Advisory LLC boosted its position in shares of Intrepid Potash, Inc. (NYSE:IPIGet Rating) by 92.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 866 shares of the basic materials company’s stock after buying an additional 416 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Intrepid Potash were worth $71,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CastleKnight Management LP bought a new position in Intrepid Potash in the fourth quarter worth approximately $10,965,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Intrepid Potash in the 4th quarter valued at about $4,511,000. Acadian Asset Management LLC increased its stake in shares of Intrepid Potash by 12.1% in the 4th quarter. Acadian Asset Management LLC now owns 261,345 shares of the basic materials company’s stock valued at $11,161,000 after purchasing an additional 28,121 shares in the last quarter. PDT Partners LLC acquired a new stake in Intrepid Potash in the 4th quarter worth about $393,000. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Intrepid Potash by 64.8% during the 4th quarter. First Eagle Investment Management LLC now owns 19,335 shares of the basic materials company’s stock worth $826,000 after purchasing an additional 7,606 shares during the last quarter. 46.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intrepid Potash

In other news, CFO Matthew D. Preston sold 6,136 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $64.74, for a total value of $397,244.64. Following the transaction, the chief financial officer now owns 9,929 shares of the company’s stock, valued at approximately $642,803.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.20% of the stock is owned by insiders.

Intrepid Potash Price Performance

NYSE IPI opened at $43.83 on Thursday. The company’s 50 day simple moving average is $49.40 and its 200 day simple moving average is $61.71. Intrepid Potash, Inc. has a 12 month low of $27.87 and a 12 month high of $121.72. The company has a market capitalization of $596.92 million, a P/E ratio of 2.11 and a beta of 2.04.

Intrepid Potash (NYSE:IPIGet Rating) last posted its earnings results on Monday, May 2nd. The basic materials company reported $2.32 EPS for the quarter, topping the consensus estimate of $1.60 by $0.72. The company had revenue of $94.16 million during the quarter, compared to the consensus estimate of $87.11 million. Intrepid Potash had a net margin of 91.93% and a return on equity of 9.13%. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, analysts anticipate that Intrepid Potash, Inc. will post 9.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IPI shares. BMO Capital Markets boosted their target price on Intrepid Potash from $65.00 to $70.00 in a research report on Thursday, May 5th. UBS Group cut their price target on shares of Intrepid Potash from $64.00 to $40.00 and set a “sell” rating for the company in a report on Wednesday, July 13th. TheStreet cut shares of Intrepid Potash from a “b-” rating to a “c+” rating in a report on Thursday, June 16th. Finally, StockNews.com lowered shares of Intrepid Potash from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.33.

Intrepid Potash Profile

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Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash 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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Institutional Ownership by Quarter for Intrepid Potash (NYSE:IPI)

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