Insider Selling: Intrepid Potash (NYSE:IPI) Director Sells $217,152.00 in Stock

Intrepid Potash, Inc (NYSE:IPI) Director Lori Lancaster sold 4,800 shares of the firm’s stock in a transaction that occurred 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 owned 10,540 shares of the company’s stock, valued at $476,829.60. The trade was a 31.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Intrepid Potash Stock Performance

Shares of NYSE IPI traded down $2.85 during trading on Thursday, hitting $42.55. The company had a trading volume of 254,897 shares, compared to its average volume of 260,798. Intrepid Potash, Inc has a 52 week low of $22.55 and a 52 week high of $50.34. The business’s 50-day moving average is $40.57 and its 200 day moving average is $33.35. The company has a market cap of $571.43 million, a P/E ratio of 40.14 and a beta of 1.25.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.62 earnings per share for the quarter, topping the consensus estimate 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, research analysts expect that Intrepid Potash, Inc will post 1.62 EPS for the current year.

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors and hedge funds have recently modified their holdings of IPI. Caxton Associates LLP acquired a new position in shares of Intrepid Potash in the first quarter worth $751,000. Sei Investments Co. acquired a new stake in Intrepid Potash during the first quarter valued at $992,000. Cetera Investment Advisers acquired a new stake in Intrepid Potash during the first quarter valued at $645,000. Baader Bank Aktiengesellschaft purchased a new position in Intrepid Potash in the first quarter valued at about $342,000. Finally, Dimensional Fund Advisors LP grew its stake in Intrepid Potash by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 734,413 shares of the basic materials company’s stock valued at $31,413,000 after purchasing an additional 16,813 shares in the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IPI shares. Weiss Ratings raised Intrepid Potash from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. UBS Group lifted their target price on shares of Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a research report on Thursday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Intrepid Potash currently has an average rating of “Reduce” and an average target price 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.