Insider Selling: Intrepid Potash (NYSE:IPI) Director Sells 4,800 Shares of Stock

Intrepid Potash, Inc (NYSE:IPI) Director Lori Lancaster sold 4,800 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $45.24, for a total transaction of $217,152.00. Following the sale, the director directly owned 10,540 shares in the company, valued at $476,829.60. This trade represents a 31.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Intrepid Potash Stock Down 6.3%

Shares of NYSE:IPI traded down $2.85 during trading on Thursday, hitting $42.55. 254,897 shares of the company traded hands, compared to its average volume of 260,798. The business’s fifty day moving average is $40.57 and its 200-day moving average is $33.35. The stock has a market capitalization of $571.43 million, a price-to-earnings ratio of 40.14 and a beta of 1.25. Intrepid Potash, Inc has a one year low of $22.55 and a one year high of $50.34.

Intrepid Potash (NYSE:IPI) last released 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 business had revenue of $98.69 million during the quarter, compared to analyst estimates of $88.30 million. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%. On average, analysts forecast that Intrepid Potash, Inc will post 1.62 EPS for the current year.

Institutional Trading of Intrepid Potash

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in shares of Intrepid Potash by 668.1% during the fourth quarter. Signaturefd LLC now owns 914 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 795 shares during the period. EverSource Wealth Advisors LLC lifted its position in Intrepid Potash by 197.8% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 544 shares during the period. International Assets Investment Management LLC bought a new position in Intrepid Potash during the 1st quarter valued at $37,000. Federated Hermes Inc. boosted its stake in Intrepid Potash by 354.7% during the 3rd quarter. Federated Hermes Inc. now owns 1,355 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 1,057 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Intrepid Potash during the 4th quarter valued at $44,000. 56.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.