Empowered Funds LLC Increases Stake in Intrepid Potash, Inc. (NYSE:IPI)

Empowered Funds LLC grew its stake in shares of Intrepid Potash, Inc. (NYSE:IPI) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,486 shares of the basic materials company’s stock after purchasing an additional 2,713 shares during the quarter. Empowered Funds LLC owned approximately 0.43% of Intrepid Potash worth $1,238,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Intrepid Potash during the 4th quarter valued at $38,000. SG Americas Securities LLC purchased a new position in shares of Intrepid Potash in the third quarter valued at about $142,000. Quest Partners LLC raised 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 valued at $228,000 after acquiring an additional 9,448 shares during the last quarter. Barclays PLC boosted its holdings in shares of Intrepid Potash by 282.6% during the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 10,599 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Intrepid Potash by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 2,242 shares during the last quarter. Institutional investors own 56.13% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $25.00, for a total value 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. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 428,748 shares of company stock worth $10,870,406 over the last three months. Company insiders own 18.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on IPI. UBS Group upped their price target on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, January 28th. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Intrepid Potash Trading Up 2.2 %

Shares of IPI opened at $25.87 on Monday. Intrepid Potash, Inc. has a 1-year low of $18.32 and a 1-year high of $29.75. The firm’s 50-day moving average price is $24.72 and its 200-day moving average price is $24.68. The firm has a market capitalization of $342.18 million, a price-to-earnings ratio of -7.72 and a beta of 2.23.

Intrepid Potash Company 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.