Bailard Inc. purchased a new stake in Phibro Animal Health Corporation (NASDAQ:PAHC – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,135 shares of the company’s stock, valued at approximately $259,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. National Bank of Canada FI purchased a new position in Phibro Animal Health during the 1st quarter valued at about $30,000. Financial Management Professionals Inc. bought a new position in shares of Phibro Animal Health in the second quarter valued at approximately $32,000. Quantbot Technologies LP grew its stake in Phibro Animal Health by 53.8% during the first quarter. Quantbot Technologies LP now owns 7,870 shares of the company’s stock valued at $168,000 after acquiring an additional 2,754 shares in the last quarter. Yousif Capital Management LLC bought a new stake in Phibro Animal Health during the 2nd quarter worth approximately $200,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Phibro Animal Health in the 1st quarter worth approximately $224,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Phibro Animal Health Stock Up 0.9%
PAHC opened at $45.10 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.76 and a debt-to-equity ratio of 2.46. The business’s fifty day simple moving average is $40.43 and its 200 day simple moving average is $31.89. Phibro Animal Health Corporation has a 52 week low of $16.16 and a 52 week high of $46.42. The stock has a market cap of $1.83 billion, a PE ratio of 38.22, a P/E/G ratio of 1.24 and a beta of 0.81.
Phibro Animal Health Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Phibro Animal Health’s dividend payout ratio (DPR) is presently 28.92%.
Insider Activity at Phibro Animal Health
In other news, CEO Jack Bendheim sold 38,303 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $45.29, for a total value of $1,734,742.87. Following the completion of the sale, the chief executive officer directly owned 20,577 shares in the company, valued at approximately $931,932.33. The trade was a 65.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 139,496 shares of company stock worth $5,985,651 over the last quarter. Company insiders own 50.13% of the company’s stock.
Wall Street Analyst Weigh In
PAHC has been the subject of several analyst reports. Morgan Stanley set a $34.00 price target on shares of Phibro Animal Health in a report on Thursday, August 28th. Zacks Research lowered Phibro Animal Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Bank of America boosted their target price on Phibro Animal Health from $19.00 to $27.00 and gave the stock an “underperform” rating in a research report on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Phibro Animal Health in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on Phibro Animal Health from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.40.
Get Our Latest Stock Report on Phibro Animal Health
About Phibro Animal Health
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.
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