Barclays PLC Boosts Stock Position in Intrepid Potash, Inc. (NYSE:IPI)

Barclays PLC raised its holdings in shares of Intrepid Potash, Inc. (NYSE:IPI) by 282.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,350 shares of the basic materials company’s stock after acquiring an additional 10,599 shares during the quarter. Barclays PLC owned approximately 0.11% of Intrepid Potash worth $344,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Intrepid Potash by 0.8% in the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after buying an additional 1,732 shares during the last quarter. State Street Corp boosted its stake in shares of Intrepid Potash by 0.6% during the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after acquiring an additional 1,402 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Intrepid Potash in the 3rd quarter worth about $602,000. Quest Partners LLC increased its stake in shares of Intrepid Potash by 24,863.2% during the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 9,448 shares in the last quarter. Finally, Empowered Funds LLC increased its position in Intrepid Potash by 5.2% during the third quarter. Empowered Funds LLC now owns 53,773 shares of the basic materials company’s stock worth $1,291,000 after buying an additional 2,680 shares in the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Insider Activity at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $25.00, for a total transaction of $88,925.00. Following the completion of the transaction, the insider now directly owns 129,230 shares of the company’s stock, valued at approximately $3,230,750. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 401,097 shares of company stock worth $10,189,635 over the last ninety days. 18.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IPI shares. UBS Group lifted their price objective 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 raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Intrepid Potash Stock Down 0.9 %

Shares of NYSE:IPI opened at $26.50 on Monday. The firm has a 50-day simple moving average of $25.06 and a 200 day simple moving average of $24.48. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The company has a market cap of $348.71 million, a PE ratio of -7.91 and a beta of 2.23.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share 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 period last year, the business earned ($0.53) EPS. As a group, research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal 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.