Phibro Animal Health Corporation $PAHC Shares Bought by Invesco Ltd.

Invesco Ltd. raised its stake in Phibro Animal Health Corporation (NASDAQ:PAHC) by 92.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 387,739 shares of the company’s stock after acquiring an additional 186,087 shares during the period. Invesco Ltd. owned 0.96% of Phibro Animal Health worth $8,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PAHC. Point72 Asia Singapore Pte. Ltd. acquired a new position in Phibro Animal Health in the fourth quarter valued at approximately $29,000. National Bank of Canada FI acquired a new position in Phibro Animal Health in the first quarter valued at approximately $30,000. Lazard Asset Management LLC boosted its stake in Phibro Animal Health by 2,739.7% in the fourth quarter. Lazard Asset Management LLC now owns 1,647 shares of the company’s stock valued at $34,000 after acquiring an additional 1,589 shares during the period. Aquatic Capital Management LLC acquired a new position in Phibro Animal Health in the fourth quarter valued at approximately $69,000. Finally, Virtus Fund Advisers LLC acquired a new position in Phibro Animal Health in the fourth quarter valued at approximately $69,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAHC has been the subject of a number of research reports. BNP Paribas upgraded Phibro Animal Health to a “hold” rating in a research note on Monday, June 16th. BNP Paribas Exane upgraded Phibro Animal Health from an “underperform” rating to a “neutral” rating and set a $24.00 target price for the company in a research note on Monday, June 16th. JPMorgan Chase & Co. upgraded Phibro Animal Health from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $25.00 to $35.00 in a research report on Monday, July 7th. Wall Street Zen upgraded Phibro Animal Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Morgan Stanley set a $26.00 price objective on Phibro Animal Health and gave the stock an “equal weight” rating in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Phibro Animal Health presently has an average rating of “Reduce” and a consensus price target of $24.40.

Phibro Animal Health Stock Performance

PAHC opened at $31.94 on Tuesday. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 40.95, a price-to-earnings-growth ratio of 0.54 and a beta of 0.80. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.91 and a quick ratio of 1.23. Phibro Animal Health Corporation has a 1-year low of $16.16 and a 1-year high of $32.95. The business has a 50 day moving average price of $28.45 and a two-hundred day moving average price of $24.18.

Phibro Animal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, September 3rd. Phibro Animal Health’s dividend payout ratio is 61.54%.

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.