Axa Reduces Holdings in Innophos Holdings, Inc. (IPHS)

Axa reduced its position in Innophos Holdings, Inc. (NASDAQ:IPHS) by 58.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,500 shares of the specialty chemicals company’s stock after selling 24,500 shares during the period. Axa owned about 0.09% of Innophos worth $777,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IPHS. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Innophos during the 3rd quarter valued at $208,000. Investment Counselors of Maryland LLC increased its holdings in Innophos by 2.8% during the 3rd quarter. Investment Counselors of Maryland LLC now owns 484,921 shares of the specialty chemicals company’s stock valued at $21,530,000 after purchasing an additional 13,025 shares in the last quarter. American Century Companies Inc. increased its holdings in Innophos by 15.8% during the 3rd quarter. American Century Companies Inc. now owns 726,190 shares of the specialty chemicals company’s stock valued at $32,243,000 after purchasing an additional 99,315 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Innophos by 12.8% during the 3rd quarter. Wells Fargo & Company MN now owns 268,908 shares of the specialty chemicals company’s stock valued at $11,939,000 after purchasing an additional 30,564 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in Innophos by 6.1% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 883,584 shares of the specialty chemicals company’s stock valued at $39,231,000 after purchasing an additional 50,788 shares in the last quarter. 94.16% of the stock is currently owned by institutional investors.

IPHS has been the subject of a number of recent analyst reports. TheStreet cut Innophos from a “b-” rating to a “c+” rating in a report on Thursday, August 23rd. BidaskClub raised Innophos from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. ValuEngine cut Innophos from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Finally, Zacks Investment Research lowered Innophos from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 25th.

Shares of IPHS opened at $24.69 on Friday. The firm has a market capitalization of $500.61 million, a price-to-earnings ratio of 10.04 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.36 and a current ratio of 2.79. Innophos Holdings, Inc. has a 52 week low of $24.28 and a 52 week high of $50.40.

Innophos (NASDAQ:IPHS) last announced its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). The firm had revenue of $196.93 million during the quarter, compared to the consensus estimate of $197.20 million. Innophos had a net margin of 2.49% and a return on equity of 13.30%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 earnings per share. Analysts forecast that Innophos Holdings, Inc. will post 2.25 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 16th were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $1.92 dividend on an annualized basis and a yield of 7.78%. Innophos’s payout ratio is 78.05%.

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Innophos Company Profile

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.

See Also: Cost of Equity For A Business, Investors

Institutional Ownership by Quarter for Innophos (NASDAQ:IPHS)

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