State Street Corp Has $5.45 Million Stock Holdings in Intrepid Potash, Inc. (NYSE:IPI)

State Street Corp grew its stake in Intrepid Potash, Inc. (NYSE:IPI) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,169 shares of the basic materials company’s stock after acquiring an additional 1,402 shares during the period. State Street Corp owned 1.73% of Intrepid Potash worth $5,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Intrepid Potash during the 3rd quarter worth $142,000. Quest Partners LLC boosted its holdings in Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after acquiring an additional 9,448 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Intrepid Potash in the second quarter worth about $303,000. Rhumbline Advisers lifted its position in Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 861 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Intrepid Potash during the third quarter worth approximately $602,000. 56.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group boosted their price objective on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, November 5th.

Insiders Place Their Bets

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $25.00, for a total transaction of $88,925.00. Following the sale, the insider now directly owns 129,230 shares of the company’s stock, valued at $3,230,750. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 401,097 shares of company stock valued at $10,189,635 in the last quarter. 18.00% of the stock is currently owned by insiders.

Intrepid Potash Trading Down 1.4 %

IPI stock opened at $21.79 on Friday. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The business’s 50-day moving average price is $25.70 and its two-hundred day moving average price is $24.45. The firm has a market cap of $286.76 million, a PE ratio of -6.50 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The business had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same period in the previous year, the company posted ($0.53) earnings per share. On average, analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Intrepid Potash 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.