Perella Weinberg Partners Capital Management LP acquired a new stake in Intrepid Potash, Inc. (NYSE:IPI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 112,988 shares of the basic materials company’s stock, valued at approximately $406,000. Perella Weinberg Partners Capital Management LP owned 0.09% of Intrepid Potash at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of Intrepid Potash in the 2nd quarter worth approximately $108,000. BlueMountain Capital Management LLC acquired a new position in shares of Intrepid Potash in the 2nd quarter worth approximately $125,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Intrepid Potash by 152.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 33,008 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 19,919 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Intrepid Potash by 96.9% in the 2nd quarter. Bank of America Corp DE now owns 41,056 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 20,204 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Intrepid Potash in the 2nd quarter worth approximately $252,000. 44.86% of the stock is currently owned by institutional investors and hedge funds.
NYSE:IPI opened at $4.00 on Monday. Intrepid Potash, Inc. has a 52-week low of $3.12 and a 52-week high of $5.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.47 and a current ratio of 3.23. The firm has a market cap of $524.43 million, a price-to-earnings ratio of -22.22 and a beta of 0.74.
Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Intrepid Potash had a return on equity of 0.03% and a net margin of 1.59%. The firm had revenue of $36.53 million for the quarter, compared to the consensus estimate of $35.85 million. During the same quarter in the prior year, the business earned ($0.02) EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts expect that Intrepid Potash, Inc. will post 0.11 earnings per share for the current year.
IPI has been the topic of several recent analyst reports. Zacks Investment Research raised Intrepid Potash from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. ValuEngine downgraded Intrepid Potash from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Stephens set a $7.00 target price on Intrepid Potash and gave the stock a “buy” rating in a report on Tuesday, October 30th. Finally, BMO Capital Markets boosted their target price on Intrepid Potash from $3.25 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $4.81.
In other news, major shareholder Clearway Capital Management Lt acquired 616,467 shares of Intrepid Potash stock in a transaction on Friday, October 19th. The shares were purchased at an average price of $3.59 per share, with a total value of $2,213,116.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert P. Jornayvaz III acquired 20,000 shares of Intrepid Potash stock in a transaction on Tuesday, August 7th. The shares were purchased at an average cost of $3.40 per share, for a total transaction of $68,000.00. Following the acquisition, the insider now owns 1,206,650 shares in the company, valued at approximately $4,102,610. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 970,634 shares of company stock worth $3,460,298. Company insiders own 27.70% of the company’s stock.
Intrepid Potash Company Profile
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
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