Caxton Associates LLP Takes $751,000 Position in Intrepid Potash, Inc $IPI

Caxton Associates LLP acquired a new position in shares of Intrepid Potash, Inc (NYSE:IPI) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,559 shares of the basic materials company’s stock, valued at approximately $751,000. Caxton Associates LLP owned 0.13% of Intrepid Potash as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of IPI. Gate City Capital Management LLC lifted its holdings in Intrepid Potash by 338.6% in the fourth quarter. Gate City Capital Management LLC now owns 914,026 shares of the basic materials company’s stock valued at $25,346,000 after buying an additional 705,638 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Intrepid Potash during the 2nd quarter worth about $3,441,000. SG Americas Securities LLC raised its position in shares of Intrepid Potash by 1,773.2% in the 1st quarter. SG Americas Securities LLC now owns 98,754 shares of the basic materials company’s stock worth $4,224,000 after acquiring an additional 93,482 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Intrepid Potash by 12.6% in the 3rd quarter. Vanguard Group Inc. now owns 726,027 shares of the basic materials company’s stock worth $22,202,000 after acquiring an additional 81,121 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Intrepid Potash by 68.0% in the 4th quarter. Renaissance Technologies LLC now owns 167,092 shares of the basic materials company’s stock valued at $4,633,000 after purchasing an additional 67,621 shares during the period. Institutional investors own 56.13% of the company’s stock.

Insider Buying and Selling

In other Intrepid Potash news, Director Lori A. Lancaster sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $45.24, for a total value of $217,152.00. Following the completion of the sale, the director owned 10,540 shares of the company’s stock, valued at approximately $476,829.60. This trade represents a 31.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Intrepid Potash Price Performance

IPI stock opened at $34.23 on Monday. The stock has a market capitalization of $459.78 million, a PE ratio of 32.30 and a beta of 1.24. The company’s 50-day moving average is $35.74 and its 200-day moving average is $36.76. Intrepid Potash, Inc has a 1 year low of $22.55 and a 1 year high of $50.34.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%.The company had revenue of $98.69 million during the quarter, compared to the consensus estimate of $88.30 million. On average, analysts anticipate that Intrepid Potash, Inc will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IPI has been the topic of several research analyst reports. Weiss Ratings upgraded Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. UBS Group lifted their target price on Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a report on Thursday, May 14th. Finally, Zacks Research cut Intrepid Potash from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Intrepid Potash presently has an average rating of “Sell” and an average target price of $26.00.

About Intrepid Potash

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.