Shell Asset Management Co. Cuts Stock Position in Intrepid Potash, Inc. (NYSE:IPI)

Shell Asset Management Co. lessened its position in Intrepid Potash, Inc. (NYSE:IPI – Get Rating) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,063 shares of the basic materials company’s stock after selling 622 shares during the quarter. Shell Asset Management Co.’s holdings in Intrepid Potash were worth $88,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gladius Capital Management LP purchased a new stake in shares of Intrepid Potash in the 4th quarter valued at $32,000. Point72 Hong Kong Ltd purchased a new stake in shares of Intrepid Potash in the 3rd quarter valued at $33,000. Altshuler Shaham Ltd purchased a new stake in Intrepid Potash during the 3rd quarter worth about $40,000. Captrust Financial Advisors increased its holdings in Intrepid Potash by 480.3% during the 2nd quarter. Captrust Financial Advisors now owns 882 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 730 shares during the period. Finally, Ellevest Inc. increased its holdings in Intrepid Potash by 119.4% during the 4th quarter. Ellevest Inc. now owns 1,672 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 910 shares during the period. Hedge funds and other institutional investors own 55.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IPI. BMO Capital Markets cut their price target on Intrepid Potash from $35.00 to $25.00 in a report on Friday, May 5th. StockNews.com downgraded Intrepid Potash from a “hold” rating to a “sell” rating in a report on Saturday, May 6th.

Intrepid Potash Trading Down 2.7 %

Intrepid Potash stock opened at $18.83 on Friday. Intrepid Potash, Inc. has a twelve month low of $18.26 and a twelve month high of $74.66. The stock has a 50 day moving average of $26.14 and a two-hundred day moving average of $30.81. The stock has a market capitalization of $247.78 million, a price-to-earnings ratio of 5.60 and a beta of 2.01.

Intrepid Potash (NYSE:IPI – Get Rating) last issued its earnings results on Wednesday, May 3rd. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.12). The business had revenue of $86.92 million for the quarter, compared to analysts’ expectations of $66.99 million. Intrepid Potash had a return on equity of 7.43% and a net margin of 14.15%. During the same period last year, the company posted $2.32 earnings per share. Equities analysts predict that Intrepid Potash, Inc. will post 1.64 earnings per share for the current year.

About Intrepid Potash

(Get Rating)

Intrepid Potash, Inc is a diversified mineral company, which engages in the delivery of potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed, and the oil and gas industry. It operates through the following segments: Potash, Trio, and Oilfield Solutions.