Truist Financial Corp Makes New Investment in Phibro Animal Health Co. (NASDAQ:PAHC)

Truist Financial Corp purchased a new stake in shares of Phibro Animal Health Co. (NASDAQ:PAHC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,371 shares of the company’s stock, valued at approximately $308,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brandes Investment Partners LP boosted its position in Phibro Animal Health by 1.2% in the 2nd quarter. Brandes Investment Partners LP now owns 2,405,629 shares of the company’s stock valued at $40,521,000 after buying an additional 29,071 shares during the last quarter. Algert Global LLC acquired a new position in shares of Phibro Animal Health during the second quarter valued at $193,000. Deerfield Management Company L.P. Series C boosted its holdings in Phibro Animal Health by 102.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 25,164 shares of the company’s stock valued at $422,000 after acquiring an additional 12,731 shares during the last quarter. AQR Capital Management LLC increased its position in Phibro Animal Health by 2.6% in the second quarter. AQR Capital Management LLC now owns 183,210 shares of the company’s stock worth $3,072,000 after purchasing an additional 4,700 shares during the period. Finally, AXA S.A. bought a new stake in Phibro Animal Health during the 2nd quarter worth about $906,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Phibro Animal Health Stock Performance

Shares of PAHC stock opened at $24.07 on Friday. The stock has a 50-day moving average of $21.13 and a 200-day moving average of $18.26. Phibro Animal Health Co. has a one year low of $9.40 and a one year high of $25.11. The stock has a market cap of $974.84 million, a PE ratio of 401.23, a price-to-earnings-growth ratio of 0.60 and a beta of 0.52. The company has a debt-to-equity ratio of 1.79, a current ratio of 2.94 and a quick ratio of 1.64.

Phibro Animal Health (NASDAQ:PAHC) last issued its earnings results on Wednesday, August 28th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The firm had revenue of $273.16 million during the quarter, compared to the consensus estimate of $262.44 million. Phibro Animal Health had a net margin of 0.24% and a return on equity of 18.08%. As a group, sell-side analysts expect that Phibro Animal Health Co. will post 1.55 earnings per share for the current year.

Phibro Animal Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.48 annualized dividend and a yield of 1.99%. Phibro Animal Health’s dividend payout ratio is presently 800.13%.

Insiders Place Their Bets

In other Phibro Animal Health news, Director E Thomas Corcoran purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $20.02 per share, with a total value of $100,100.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at $500,500. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 50.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Bank of America raised their target price on shares of Phibro Animal Health from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. assumed coverage on shares of Phibro Animal Health in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $22.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.00.

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.