Intrepid Potash, Inc $IPI Position Cut by Royce & Associates LP

Royce & Associates LP trimmed its holdings in Intrepid Potash, Inc (NYSE:IPI) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,756 shares of the basic materials company’s stock after selling 21,514 shares during the quarter. Royce & Associates LP’s holdings in Intrepid Potash were worth $4,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership acquired a new stake in Intrepid Potash in the second quarter worth approximately $3,441,000. Vanguard Group Inc. lifted its position in Intrepid Potash by 12.6% in the third quarter. Vanguard Group Inc. now owns 726,027 shares of the basic materials company’s stock worth $22,202,000 after purchasing an additional 81,121 shares during the period. GSA Capital Partners LLP lifted its position in Intrepid Potash by 350.2% in the third quarter. GSA Capital Partners LLP now owns 86,945 shares of the basic materials company’s stock worth $2,659,000 after purchasing an additional 67,631 shares during the period. Qube Research & Technologies Ltd lifted its position in Intrepid Potash by 270.1% in the third quarter. Qube Research & Technologies Ltd now owns 87,189 shares of the basic materials company’s stock worth $2,666,000 after purchasing an additional 63,630 shares during the period. Finally, PDT Partners LLC lifted its position in Intrepid Potash by 716.1% in the second quarter. PDT Partners LLC now owns 61,949 shares of the basic materials company’s stock worth $2,213,000 after purchasing an additional 54,358 shares during the period. 56.13% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Lori A. 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 value of $217,152.00. Following the completion of the sale, the director owned 10,540 shares in the company, valued at $476,829.60. This represents a 31.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by insiders.

Intrepid Potash Stock Down 1.1%

IPI opened at $38.98 on Friday. The stock has a fifty day moving average of $40.11 and a 200-day moving average of $34.36. The firm has a market capitalization of $523.47 million, a P/E ratio of 36.77 and a beta of 1.25. Intrepid Potash, Inc has a 12-month low of $22.55 and a 12-month high of $50.34.

Intrepid Potash (NYSE:IPI) last released its earnings results 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 company 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 expect that Intrepid Potash, Inc will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IPI. UBS Group upped their target price on Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently 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.