Principal Financial Group Inc. Increases Holdings in Intrepid Potash, Inc. (NYSE:IPI)

Principal Financial Group Inc. increased its holdings in shares of Intrepid Potash, Inc. (NYSE:IPIFree Report) by 28.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,995 shares of the basic materials company’s stock after purchasing an additional 2,864 shares during the period. Principal Financial Group Inc. owned 0.10% of Intrepid Potash worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of IPI. Barclays PLC boosted its position in shares of Intrepid Potash by 33.5% in the third quarter. Barclays PLC now owns 14,646 shares of the basic materials company’s stock worth $369,000 after buying an additional 3,677 shares during the period. Swiss National Bank boosted its position in shares of Intrepid Potash by 5.6% in the third quarter. Swiss National Bank now owns 24,600 shares of the basic materials company’s stock worth $619,000 after buying an additional 1,300 shares during the period. Essex Investment Management Co. LLC purchased a new stake in shares of Intrepid Potash in the third quarter worth about $1,706,000. Foundry Partners LLC boosted its position in shares of Intrepid Potash by 13.0% in the third quarter. Foundry Partners LLC now owns 143,391 shares of the basic materials company’s stock worth $3,608,000 after buying an additional 16,540 shares during the period. Finally, Azarias Capital Management L.P. boosted its position in shares of Intrepid Potash by 39.5% in the fourth quarter. Azarias Capital Management L.P. now owns 604,042 shares of the basic materials company’s stock worth $14,431,000 after buying an additional 171,167 shares during the period. Institutional investors and hedge funds own 56.13% of the company’s stock.

Intrepid Potash Stock Performance

NYSE:IPI opened at $25.27 on Wednesday. Intrepid Potash, Inc. has a one year low of $17.52 and a one year high of $28.30. The business’s 50-day simple moving average is $22.44 and its 200 day simple moving average is $21.17. The stock has a market cap of $335.33 million, a price-to-earnings ratio of -7.47 and a beta of 2.22.

Intrepid Potash (NYSE:IPIGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.18). Intrepid Potash had a negative return on equity of 1.37% and a negative net margin of 15.95%. The business had revenue of $66.46 million during the quarter, compared to analyst estimates of $62.87 million. On average, equities research analysts predict that Intrepid Potash, Inc. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IPI. StockNews.com raised Intrepid Potash to a “sell” rating in a research report on Friday, May 10th. BMO Capital Markets boosted their price target on Intrepid Potash from $21.00 to $23.00 and gave the stock a “market perform” rating in a research note on Friday, May 10th.

Get Our Latest Stock Report on IPI

Insider Buying and Selling at Intrepid Potash

In other Intrepid Potash news, CEO Robert P. Jornayvaz III sold 5,384 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $19.35, for a total transaction of $104,180.40. Following the sale, the chief executive officer now owns 1,518,920 shares in the company, valued at $29,391,102. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Intrepid Potash news, CEO Robert P. Jornayvaz III sold 5,384 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $19.35, for a total transaction of $104,180.40. Following the sale, the chief executive officer now owns 1,518,920 shares in the company, valued at $29,391,102. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert P. Jornayvaz III sold 63,372 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $20.43, for a total value of $1,294,689.96. Following the sale, the chief executive officer now owns 1,542,551 shares in the company, valued at approximately $31,514,316.93. The disclosure for this sale can be found here. Insiders have sold 96,034 shares of company stock worth $1,939,525 over the last quarter. 18.00% of the stock is owned by corporate insiders.

Intrepid Potash Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Intrepid Potash (NYSE:IPI)

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