First Eagle Investment Management LLC Grows Holdings in Intrepid Potash, Inc. (NYSE:IPI)

First Eagle Investment Management LLC increased its position in Intrepid Potash, Inc. (NYSE:IPI) by 4.5% in the 4th quarter, HoldingsChannel reports. The fund owned 657,970 shares of the basic materials company’s stock after buying an additional 28,500 shares during the quarter. First Eagle Investment Management LLC’s holdings in Intrepid Potash were worth $14,423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IPI. R Squared Ltd bought a new position in Intrepid Potash in the 4th quarter worth approximately $38,000. SG Americas Securities LLC boosted its stake in Intrepid Potash by 14.0% in the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 830 shares during the period. Quest Partners LLC boosted its stake in Intrepid Potash by 24,863.2% in the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 9,448 shares during the period. Barclays PLC boosted its stake in Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 10,599 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Intrepid Potash by 11.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 2,242 shares during the period. 56.13% of the stock is owned by hedge funds and other institutional investors.

Intrepid Potash Stock Up 1.6 %

Shares of IPI opened at $26.53 on Friday. The company has a market cap of $350.89 million, a PE ratio of -7.92 and a beta of 2.18. The business has a fifty day moving average of $25.73 and a 200 day moving average of $25.10. Intrepid Potash, Inc. has a 52-week low of $18.35 and a 52-week high of $29.75.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The company had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same quarter in the prior year, the business earned ($0.41) earnings per share. As a group, research analysts anticipate that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 14,736 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.67, for a total value of $378,273.12. Following the sale, the insider now owns 1,212,823 shares in the company, valued at $31,133,166.41. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 133,385 shares of company stock worth $3,502,244 over the last quarter. Company insiders own 18.00% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group dropped their price target on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a research note on Tuesday, March 4th.

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.