Dana Investment Advisors Inc. decreased its holdings in Phibro Animal Health Corporation (NASDAQ:PAHC – Free Report) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 355,085 shares of the company’s stock after selling 37,794 shares during the period. Dana Investment Advisors Inc. owned about 0.88% of Phibro Animal Health worth $14,367,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Penserra Capital Management LLC purchased a new stake in Phibro Animal Health in the 3rd quarter worth approximately $519,000. Capricorn Fund Managers Ltd acquired a new position in shares of Phibro Animal Health in the third quarter worth $10,233,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Phibro Animal Health during the third quarter worth $8,931,000. Bailard Inc. acquired a new stake in Phibro Animal Health during the second quarter valued at $259,000. Finally, Squarepoint Ops LLC purchased a new position in Phibro Animal Health in the second quarter valued at about $813,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.
Phibro Animal Health Stock Down 2.4%
PAHC opened at $51.52 on Tuesday. The firm has a market cap of $2.09 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 0.81 and a beta of 0.80. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.22 and a current ratio of 3.05. The business has a 50 day moving average price of $42.66 and a 200 day moving average price of $40.31. Phibro Animal Health Corporation has a twelve month low of $16.16 and a twelve month high of $56.30.
Phibro Animal Health Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, March 4th. Phibro Animal Health’s dividend payout ratio is 21.33%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Phibro Animal Health from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Zacks Research downgraded Phibro Animal Health from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Morgan Stanley set a $49.00 price objective on shares of Phibro Animal Health in a research report on Friday, February 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Phibro Animal Health in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.50.
View Our Latest Report on Phibro Animal Health
Insider Transactions at Phibro Animal Health
In other news, CEO Jack Bendheim sold 7,040 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $51.42, for a total value of $361,996.80. Following the sale, the chief executive officer directly owned 22,600 shares of the company’s stock, valued at approximately $1,162,092. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 293,920 shares of company stock worth $13,885,755 in the last three months. 50.13% of the stock is owned by corporate insiders.
Phibro Animal Health Profile
Phibro Animal Health Corporation (NASDAQ: PAHC) is a diversified global animal health and mineral nutrition company headquartered in Teaneck, New Jersey. The company develops, manufactures and markets a broad range of pharmaceutical, mineral nutrition and performance products designed to support the health and productivity of livestock, companion animals and aquaculture species. Phibro’s portfolio includes vaccines, anti-infective therapies, coccidiostats, disinfectants, premix minerals and specialty feed additives aimed at enhancing growth, immunity and overall animal well-being.
The company operates through three principal business segments: Animal Health, Mineral Nutrition and Performance Products.
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