PNC Financial Services Group Inc. cut its position in shares of Innophos Holdings, Inc. (NASDAQ:IPHS) by 16.0% in the third quarter, Holdings Channel reports. The institutional investor owned 102,230 shares of the specialty chemicals company’s stock after selling 19,419 shares during the period. PNC Financial Services Group Inc.’s holdings in Innophos were worth $4,539,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Innophos by 6.8% in the 2nd quarter. BlackRock Inc. now owns 2,665,668 shares of the specialty chemicals company’s stock valued at $126,885,000 after purchasing an additional 170,407 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Innophos by 2.6% in the second quarter. Segall Bryant & Hamill LLC now owns 1,119,006 shares of the specialty chemicals company’s stock worth $53,265,000 after buying an additional 28,699 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Innophos by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,036,266 shares of the specialty chemicals company’s stock worth $49,326,000 after buying an additional 23,828 shares during the period. Frontier Capital Management Co. LLC raised its holdings in shares of Innophos by 6.1% in the third quarter. Frontier Capital Management Co. LLC now owns 883,584 shares of the specialty chemicals company’s stock worth $39,231,000 after buying an additional 50,788 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Innophos by 15.8% in the third quarter. American Century Companies Inc. now owns 726,190 shares of the specialty chemicals company’s stock worth $32,243,000 after buying an additional 99,315 shares during the period. 94.16% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on IPHS shares. BidaskClub downgraded Innophos from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. TheStreet downgraded Innophos from a “b-” rating to a “c+” rating in a report on Thursday, August 23rd. ValuEngine downgraded Innophos from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Finally, Zacks Investment Research downgraded Innophos from a “hold” rating to a “strong sell” rating in a report on Thursday, October 25th.
Shares of NASDAQ IPHS opened at $25.52 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 1.36 and a debt-to-equity ratio of 1.01. Innophos Holdings, Inc. has a fifty-two week low of $25.49 and a fifty-two week high of $50.40. The company has a market capitalization of $544.16 million, a PE ratio of 10.37 and a beta of 1.23.
Innophos (NASDAQ:IPHS) last issued its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). Innophos had a return on equity of 13.30% and a net margin of 2.49%. The business had revenue of $196.93 million during the quarter, compared to analysts’ expectations of $197.20 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that Innophos Holdings, Inc. will post 2.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be issued a $0.48 dividend. The ex-dividend date is Thursday, November 15th. This represents a $1.92 annualized dividend and a dividend yield of 7.52%. Innophos’s payout ratio is 78.05%.
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Innophos Holdings, Inc, together with its subsidiaries, produces specialty ingredients with applications in food, health, nutrition, and industrial markets. It operates through three segments: Food, Health and Nutrition; Industrial Specialties; and Other. The company's specialty ingredients include specialty phosphate salts and specialty phosphoric acids, as well as other mineral, enzyme, and botanical based specialty ingredients that are used as flavor enhancers in beverages; electrolytes in sports drinks; texture modifiers in cheeses; leavening agents in baked goods; calcium and phosphorus fortification in food and beverages; moisture and color retention in seafood, poultry, and meat; excipients in vitamins, minerals, nutritional supplements, and pharmaceuticals; and abrasives in toothpaste.
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