Innophos Holdings, Inc. (NASDAQ:IPHS) Short Interest Up 14.6% in August

Innophos Holdings, Inc. (NASDAQ:IPHS) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 386,000 shares, an increase of 14.6% from the July 31st total of 336,700 shares. Based on an average trading volume of 74,000 shares, the short-interest ratio is currently 5.2 days. Approximately 2.0% of the shares of the stock are sold short.

A number of hedge funds have recently added to or reduced their stakes in IPHS. Bank of Montreal Can grew its stake in Innophos by 169.7% in the 2nd quarter. Bank of Montreal Can now owns 2,799 shares of the specialty chemicals company’s stock worth $80,000 after acquiring an additional 1,761 shares during the period. Russell Investments Group Ltd. purchased a new stake in Innophos in the 2nd quarter worth approximately $132,000. BNP Paribas Arbitrage SA grew its stake in Innophos by 87.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,504 shares of the specialty chemicals company’s stock worth $166,000 after acquiring an additional 2,570 shares during the period. Laurion Capital Management LP purchased a new stake in Innophos in the 2nd quarter worth approximately $201,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Innophos in the 1st quarter worth approximately $203,000. 93.54% of the stock is owned by hedge funds and other institutional investors.

Shares of Innophos stock traded up $1.15 during trading on Friday, hitting $33.05. 4,475 shares of the company were exchanged, compared to its average volume of 87,234. The company has a quick ratio of 1.41, a current ratio of 2.85 and a debt-to-equity ratio of 0.97. Innophos has a fifty-two week low of $22.57 and a fifty-two week high of $46.65. The stock has a market capitalization of $639.37 million, a price-to-earnings ratio of 14.45 and a beta of 1.43. The firm has a 50 day moving average price of $27.45 and a 200 day moving average price of $29.36.

Innophos (NASDAQ:IPHS) last issued its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.06. Innophos had a return on equity of 12.35% and a net margin of 3.79%. The firm had revenue of $185.04 million during the quarter, compared to the consensus estimate of $196.55 million. During the same period in the previous year, the firm posted $0.55 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts predict that Innophos will post 2.18 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.48 per share. The ex-dividend date was Thursday, August 22nd. This represents a $1.92 annualized dividend and a dividend yield of 5.81%. Innophos’s dividend payout ratio is currently 84.21%.

A number of research firms have recently issued reports on IPHS. BidaskClub upgraded shares of Innophos from a “sell” rating to a “hold” rating in a research report on Friday, August 23rd. TheStreet downgraded shares of Innophos from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research downgraded shares of Innophos from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $31.00.

About Innophos

Innophos Holdings, Inc, together with its subsidiaries, produces specialty ingredients with applications in food, health, nutrition, and industrial markets. It operates through three segments: Food, Health and Nutrition; Industrial Specialties; and Other. The company's specialty ingredients include specialty phosphate salts and specialty phosphoric acids, as well as other mineral, enzyme, and botanical based specialty ingredients that are used as flavor enhancers in beverages; electrolytes in sports drinks; texture modifiers in cheeses; leavening agents in baked goods; calcium and phosphorus fortification in food and beverages; moisture and color retention in seafood, poultry, and meat; excipients in vitamins, minerals, nutritional supplements, and pharmaceuticals; and abrasives in toothpaste.

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