Northern Trust Corp Buys 2,621 Shares of Intrepid Potash, Inc. (NYSE:IPI)

Northern Trust Corp grew its stake in Intrepid Potash, Inc. (NYSE:IPI) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,566 shares of the basic materials company’s stock after purchasing an additional 2,621 shares during the period. Northern Trust Corp owned approximately 0.68% of Intrepid Potash worth $1,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of IPI. The Manufacturers Life Insurance Company boosted its holdings in shares of Intrepid Potash by 191.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company’s stock worth $1,604,000 after acquiring an additional 48,068 shares in the last quarter. Aquatic Capital Management LLC boosted its holdings in shares of Intrepid Potash by 274.3% in the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 4,114 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Intrepid Potash in the 4th quarter worth approximately $227,000. Barclays PLC boosted its holdings in shares of Intrepid Potash by 16.2% in the 4th quarter. Barclays PLC now owns 16,672 shares of the basic materials company’s stock worth $366,000 after acquiring an additional 2,322 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Intrepid Potash in the 4th quarter worth approximately $1,028,000. 56.13% of the stock is currently owned by institutional investors.

Intrepid Potash Stock Performance

NYSE:IPI opened at $36.64 on Monday. The stock’s fifty day moving average price is $31.59 and its two-hundred day moving average price is $27.70. Intrepid Potash, Inc. has a 52-week low of $20.75 and a 52-week high of $38.87. The company has a market cap of $487.89 million, a price-to-earnings ratio of -10.94 and a beta of 1.80.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.51. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The firm had revenue of $97.76 million for the quarter, compared to the consensus estimate of $72.34 million. On average, equities analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IPI shares. UBS Group reduced their target price on Intrepid Potash from $20.00 to $19.00 and set a “sell” rating on the stock in a report on Wednesday, April 16th. Wall Street Zen raised Intrepid Potash from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th.

Insiders Place Their Bets

In other news, major shareholder Robert P. Jornayvaz III sold 47,429 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $26.54, for a total value of $1,258,765.66. Following the transaction, the insider now owns 1,164,794 shares of the company’s stock, valued at $30,913,632.76. This represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 195,425 shares of company stock valued at $6,234,057. 2.40% of the stock is currently owned by corporate insiders.

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.