Principal Financial Group Inc. Sells 15,005 Shares of Phibro Animal Health Co. (NASDAQ:PAHC)

Principal Financial Group Inc. trimmed its position in shares of Phibro Animal Health Co. (NASDAQ:PAHC) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 96,087 shares of the company’s stock after selling 15,005 shares during the quarter. Principal Financial Group Inc. owned about 0.24% of Phibro Animal Health worth $2,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PAHC. Pinnacle Associates Ltd. grew its holdings in Phibro Animal Health by 18.8% in the third quarter. Pinnacle Associates Ltd. now owns 24,120 shares of the company’s stock worth $543,000 after purchasing an additional 3,820 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Phibro Animal Health by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,912 shares of the company’s stock worth $88,000 after purchasing an additional 1,522 shares in the last quarter. Cardinal Capital Management grew its stake in Phibro Animal Health by 16.0% during the 3rd quarter. Cardinal Capital Management now owns 64,986 shares of the company’s stock worth $1,463,000 after buying an additional 8,959 shares during the last quarter. nVerses Capital LLC acquired a new position in Phibro Animal Health during the 3rd quarter valued at about $70,000. Finally, CWM LLC raised its stake in Phibro Animal Health by 190.8% in the third quarter. CWM LLC now owns 6,363 shares of the company’s stock valued at $143,000 after buying an additional 4,175 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PAHC. Bank of America boosted their price target on Phibro Animal Health from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Friday, August 30th. StockNews.com lowered Phibro Animal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. initiated coverage on shares of Phibro Animal Health in a report on Tuesday, September 10th. They issued a “neutral” rating and a $22.00 price target on the stock. Finally, Barclays lifted their price objective on shares of Phibro Animal Health from $13.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Phibro Animal Health presently has a consensus rating of “Hold” and an average target price of $16.50.

Insider Buying and Selling

In related news, Director E Thomas Corcoran purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $20.02 per share, with a total value of $100,100.00. Following the purchase, the director now owns 25,000 shares of the company’s stock, valued at $500,500. This represents a 25.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 50.07% of the stock is owned by insiders.

Phibro Animal Health Stock Down 0.1 %

Shares of PAHC stock opened at $23.74 on Friday. Phibro Animal Health Co. has a twelve month low of $9.49 and a twelve month high of $25.98. The stock has a market cap of $961.54 million, a P/E ratio of 55.26, a P/E/G ratio of 0.62 and a beta of 0.51. The stock has a 50 day moving average of $23.13 and a 200 day moving average of $19.94. The company has a current ratio of 3.23, a quick ratio of 1.69 and a debt-to-equity ratio of 1.81.

Phibro Animal Health (NASDAQ:PAHC) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Phibro Animal Health had a net margin of 1.67% and a return on equity of 21.59%. The company had revenue of $273.16 million during the quarter, compared to analysts’ expectations of $262.44 million. As a group, sell-side analysts expect that Phibro Animal Health Co. will post 1.59 EPS for the current year.

Phibro Animal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.48 dividend on an annualized basis and a yield of 2.02%. Phibro Animal Health’s dividend payout ratio is currently 111.63%.

Phibro Animal Health Profile

Phibro Animal Health Corporation operates as an animal health and mineral nutrition company in the United States, Israel, Brazil, Ireland, and internationally. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets various products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs.