Geode Capital Management LLC Purchases 1,732 Shares of Intrepid Potash, Inc. (NYSE:IPI)

Geode Capital Management LLC boosted its position in Intrepid Potash, Inc. (NYSE:IPI) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 231,594 shares of the basic materials company’s stock after acquiring an additional 1,732 shares during the quarter. Geode Capital Management LLC owned 1.76% of Intrepid Potash worth $5,560,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Intrepid Potash in the 3rd quarter valued at approximately $142,000. Quest Partners LLC grew its stake in shares of Intrepid Potash by 24,863.2% during the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after buying an additional 9,448 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Intrepid Potash during the second quarter worth $303,000. Barclays PLC lifted its stake in shares of Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after acquiring an additional 10,599 shares during the last quarter. Finally, Rhumbline Advisers grew 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 worth $422,000 after acquiring an additional 861 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Robert P. Jornayvaz III sold 159,513 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.12, for a total transaction of $4,006,966.56. Following the transaction, the insider now directly owns 1,285,000 shares of the company’s stock, valued at $32,279,200. This represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 401,097 shares of company stock valued at $10,189,635 in the last ninety days. 18.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Intrepid Potash Trading Up 4.3 %

NYSE IPI opened at $22.63 on Friday. Intrepid Potash, Inc. has a 12 month low of $17.52 and a 12 month high of $29.75. The firm has a market capitalization of $297.88 million, a PE ratio of -6.76 and a beta of 2.21. The business’s 50-day moving average price is $25.42 and its two-hundred day moving average price is $24.38.

Intrepid Potash (NYSE:IPI) last issued its quarterly 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). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The firm had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. During the same quarter last year, the firm posted ($0.53) EPS. As a group, analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal 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.