Nuveen LLC Takes Position in Intrepid Potash, Inc $IPI

Nuveen LLC acquired a new stake in Intrepid Potash, Inc (NYSE:IPI) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,761 shares of the basic materials company’s stock, valued at approximately $875,000. Nuveen LLC owned about 0.22% of Intrepid Potash as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the business. Glenorchy Capital Ltd increased its holdings in shares of Intrepid Potash by 1.1% in the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock valued at $1,379,000 after acquiring an additional 714 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Intrepid Potash during the 1st quarter worth approximately $29,000. Charles Schwab Investment Management Inc. grew its stake in Intrepid Potash by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,254 shares of the basic materials company’s stock worth $919,000 after buying an additional 1,212 shares during the last quarter. Wells Fargo & Company MN grew its stake in Intrepid Potash by 12.2% during the 4th quarter. Wells Fargo & Company MN now owns 13,652 shares of the basic materials company’s stock worth $299,000 after buying an additional 1,486 shares during the last quarter. Finally, State of Wyoming purchased a new position in Intrepid Potash during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group dropped their price target on Intrepid Potash from $24.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, August 7th. Zacks Research upgraded Intrepid Potash from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Finally, Wall Street Zen upgraded Intrepid Potash from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Activity at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 53,035 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $34.30, for a total value of $1,819,100.50. Following the completion of the sale, the insider directly owned 3,950 shares of the company’s stock, valued at $135,485. This trade represents a 93.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Intrepid Potash Trading Down 0.1%

Intrepid Potash stock opened at $30.41 on Wednesday. Intrepid Potash, Inc has a twelve month low of $20.86 and a twelve month high of $39.01. The stock has a 50 day moving average of $32.69 and a two-hundred day moving average of $31.96. The stock has a market capitalization of $404.99 million, a price-to-earnings ratio of -1.95 and a beta of 1.83.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.17 by $0.28. The business had revenue of $71.47 million during the quarter, compared to analysts’ expectations of $56.14 million. Intrepid Potash had a positive return on equity of 1.48% and a negative net margin of 71.13%. Equities analysts predict that Intrepid Potash, Inc will post -0.17 earnings per share for the current year.

About Intrepid Potash

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.