Old West Investment Management LLC increased its stake in shares of Intrepid Potash, Inc. (NYSE:IPI) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,087,162 shares of the basic materials company’s stock after buying an additional 97,073 shares during the quarter. Intrepid Potash accounts for 2.3% of Old West Investment Management LLC’s investment portfolio, making the stock its 17th largest holding. Old West Investment Management LLC owned 0.83% of Intrepid Potash worth $3,957,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in Intrepid Potash by 25.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,980,432 shares of the basic materials company’s stock worth $18,129,000 after buying an additional 1,022,582 shares in the last quarter. Royce & Associates LP grew its holdings in Intrepid Potash by 31.4% during the fourth quarter. Royce & Associates LP now owns 761,955 shares of the basic materials company’s stock worth $3,627,000 after buying an additional 182,000 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Intrepid Potash by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 424,131 shares of the basic materials company’s stock worth $2,018,000 after buying an additional 21,550 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Intrepid Potash during the fourth quarter worth $1,839,000. Finally, ClariVest Asset Management LLC bought a new stake in Intrepid Potash during the first quarter worth $1,095,000. Institutional investors and hedge funds own 47.26% of the company’s stock.
In other Intrepid Potash news, EVP James N. Whyte sold 45,948 shares of the company’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $4.52, for a total value of $207,684.96. Following the completion of the transaction, the executive vice president now owns 344,711 shares in the company, valued at approximately $1,558,093.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph G. Montoya sold 20,047 shares of the company’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $4.67, for a total value of $93,619.49. Following the completion of the transaction, the vice president now owns 89,699 shares of the company’s stock, valued at approximately $418,894.33. The disclosure for this sale can be found here. Insiders sold a total of 7,371,333 shares of company stock valued at $30,815,628 in the last 90 days. Corporate insiders own 27.70% of the company’s stock.
Intrepid Potash traded up $0.06, reaching $4.61, during trading on Monday, Marketbeat Ratings reports. The company’s stock had a trading volume of 9,857 shares, compared to its average volume of 910,613. The company has a market capitalization of $593.83 million, a PE ratio of -25.28 and a beta of 0.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.28 and a quick ratio of 1.17. Intrepid Potash, Inc. has a 12 month low of $2.03 and a 12 month high of $5.31.
Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data on Tuesday, April 24th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $38.57 million during the quarter, compared to the consensus estimate of $35.48 million. Intrepid Potash had a negative net margin of 4.60% and a negative return on equity of 1.82%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. sell-side analysts anticipate that Intrepid Potash, Inc. will post 0.13 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Intrepid Potash from a “buy” rating to a “hold” rating in a report on Saturday, May 12th. Stephens upgraded Intrepid Potash from an “equal weight” rating to an “overweight” rating and set a $5.00 price objective for the company in a research note on Wednesday, May 9th. Cowen upgraded Intrepid Potash from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $3.56 to $3.75 in a research note on Monday, March 5th. Finally, ValuEngine upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.95.
Intrepid Potash Profile
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. 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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