Brandywine Global Investment Management LLC Purchases 9,750 Shares of Intrepid Potash, Inc $IPI

Brandywine Global Investment Management LLC raised its position in Intrepid Potash, Inc (NYSE:IPI) by 20.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,890 shares of the basic materials company’s stock after acquiring an additional 9,750 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.43% of Intrepid Potash worth $2,068,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Intrepid Potash by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock valued at $193,000 after purchasing an additional 312 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Intrepid Potash by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,254 shares of the basic materials company’s stock valued at $919,000 after buying an additional 1,212 shares during the period. EntryPoint Capital LLC lifted its position in shares of Intrepid Potash by 12.7% in the first quarter. EntryPoint Capital LLC now owns 12,092 shares of the basic materials company’s stock valued at $355,000 after buying an additional 1,366 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Intrepid Potash by 0.6% in the second quarter. Geode Capital Management LLC now owns 241,039 shares of the basic materials company’s stock valued at $8,614,000 after buying an additional 1,520 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Intrepid Potash by 32.7% during the 2nd quarter. SG Americas Securities LLC now owns 7,377 shares of the basic materials company’s stock worth $264,000 after acquiring an additional 1,817 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on IPI. UBS Group reduced their price objective on shares of Intrepid Potash from $24.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Intrepid Potash from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research cut shares of Intrepid Potash from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intrepid Potash in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Sell” and a consensus price target of $23.00.

Intrepid Potash Trading Down 1.4%

Shares of IPI opened at $24.56 on Tuesday. Intrepid Potash, Inc has a 12 month low of $20.86 and a 12 month high of $39.01. The firm’s 50 day moving average is $27.60 and its 200-day moving average is $31.64. The stock has a market capitalization of $329.79 million, a PE ratio of -1.58 and a beta of 1.85.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Intrepid Potash had a positive return on equity of 1.48% and a negative net margin of 71.13%.The company had revenue of $53.22 million for the quarter, compared to analyst estimates of $49.54 million. Equities research analysts predict that Intrepid Potash, Inc will post -0.17 earnings per share for the current fiscal 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.