Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 24,567 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 24,567 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $26.93, for a total value of $661,589.31. Following the transaction, the insider now owns 104,663 shares in the company, valued at $2,818,574.59. This trade represents a 19.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Trading Up 1.4 %

IPI stock traded up $0.38 during midday trading on Wednesday, hitting $27.51. The company had a trading volume of 160,185 shares, compared to its average volume of 132,780. The stock has a market cap of $361.99 million, a price-to-earnings ratio of -8.21 and a beta of 2.23. Intrepid Potash, Inc. has a 52 week low of $17.52 and a 52 week high of $29.75. The stock’s 50 day moving average price is $25.03 and its 200 day moving average price is $24.54.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The firm had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same quarter in the prior year, the company earned ($0.53) earnings per share. Analysts predict that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IPI. UBS Group boosted their price objective on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Institutional Trading of Intrepid Potash

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Intrepid Potash by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock valued at $17,281,000 after purchasing an additional 26,696 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Intrepid Potash by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after buying an additional 1,732 shares in the last quarter. State Street Corp grew its position in shares of Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after buying an additional 1,402 shares during the period. American Century Companies Inc. lifted its position in Intrepid Potash by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 184,337 shares of the basic materials company’s stock valued at $4,319,000 after acquiring an additional 14,968 shares during the period. Finally, Pinnacle Associates Ltd. bought a new stake in Intrepid Potash during the third quarter worth about $3,100,000. 56.13% of the stock is owned by institutional investors.

Intrepid Potash Company Profile

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 company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.