JPMorgan Chase & Co. Acquires 2,242 Shares of Intrepid Potash, Inc. (NYSE:IPI)

JPMorgan Chase & Co. lifted its holdings in shares of Intrepid Potash, Inc. (NYSE:IPI) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,477 shares of the basic materials company’s stock after purchasing an additional 2,242 shares during the period. JPMorgan Chase & Co. owned about 0.17% of Intrepid Potash worth $539,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Intrepid Potash by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock valued at $17,281,000 after buying an additional 26,696 shares during the period. Cubist Systematic Strategies LLC bought a new position in Intrepid Potash during the second quarter valued at approximately $979,000. Squarepoint Ops LLC purchased a new stake in Intrepid Potash during the second quarter valued at approximately $303,000. AQR Capital Management LLC increased its holdings in Intrepid Potash by 5.2% during the second quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock valued at $1,086,000 after buying an additional 2,306 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash in the third quarter worth $142,000. Institutional investors own 56.13% of the company’s stock.

Analyst Ratings Changes

IPI has been the subject of a number of analyst reports. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group lifted 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.

Intrepid Potash Stock Down 1.1 %

Shares of Intrepid Potash stock opened at $26.84 on Tuesday. The firm’s 50 day moving average price is $25.04 and its 200-day moving average price is $24.65. Intrepid Potash, Inc. has a 52-week low of $17.52 and a 52-week high of $29.75. The company has a market cap of $353.15 million, a P/E ratio of -8.01 and a beta of 2.23.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, November 4th. The basic materials company reported ($0.14) 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 company had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. During the same quarter last year, the business earned ($0.53) earnings per share. As a group, equities research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $25.00, for a total value of $88,925.00. Following the completion of the transaction, the insider now directly owns 129,230 shares in the company, valued at $3,230,750. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 431,264 shares of company stock worth $11,004,385. Company insiders own 18.00% of the company’s stock.

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.