Bank of New York Mellon Corp Grows Position in Intrepid Potash, Inc. (NYSE:IPI)

Bank of New York Mellon Corp grew its holdings in Intrepid Potash, Inc. (NYSE:IPI) by 14.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,775 shares of the basic materials company’s stock after buying an additional 6,632 shares during the period. Bank of New York Mellon Corp owned 0.39% of Intrepid Potash worth $1,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Marquette Asset Management LLC acquired a new stake in Intrepid Potash in the 1st quarter valued at about $144,000. Aristides Capital LLC purchased a new stake in shares of Intrepid Potash in the fourth quarter valued at approximately $245,000. Principal Financial Group Inc. increased its holdings in shares of Intrepid Potash by 28.3% in the fourth quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company’s stock valued at $310,000 after purchasing an additional 2,864 shares during the last quarter. Empowered Funds LLC lifted its position in Intrepid Potash by 7.7% during the first quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company’s stock worth $662,000 after buying an additional 2,275 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Intrepid Potash by 517.6% during the first quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock worth $1,211,000 after buying an additional 48,715 shares during the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

Intrepid Potash Trading Down 0.9 %

Shares of IPI stock opened at $24.27 on Friday. Intrepid Potash, Inc. has a twelve month low of $17.52 and a twelve month high of $28.00. The company’s 50-day moving average price is $23.87 and its 200-day moving average price is $22.96. The stock has a market cap of $322.04 million, a price-to-earnings ratio of -7.18 and a beta of 2.19.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, August 5th. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The firm had revenue of $62.06 million during the quarter, compared to analyst estimates of $50.88 million. Intrepid Potash had a negative net margin of 19.19% and a negative return on equity of 2.02%. During the same quarter in the previous year, the firm earned $0.33 earnings per share. As a group, equities research analysts predict that Intrepid Potash, Inc. will post 0.15 EPS for the current year.

About Intrepid Potash

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.