129,782 Shares in Intrepid Potash, Inc. (NYSE:IPI) Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. acquired a new position in shares of Intrepid Potash, Inc. (NYSE:IPI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 129,782 shares of the basic materials company’s stock, valued at approximately $3,100,000. Pinnacle Associates Ltd. owned about 0.98% of Intrepid Potash at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IPI. First Eagle Investment Management LLC raised its holdings in Intrepid Potash by 25.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock valued at $14,123,000 after acquiring an additional 121,100 shares during the period. Acadian Asset Management LLC boosted its position in shares of Intrepid Potash by 517.6% during the 1st quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock worth $1,211,000 after acquiring an additional 48,715 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Intrepid Potash in the second quarter valued at approximately $979,000. Glenorchy Capital Ltd boosted its position in Intrepid Potash by 95.7% in the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after buying an additional 30,425 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Intrepid Potash by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock valued at $17,281,000 after buying an additional 26,696 shares in the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Intrepid Potash Stock Performance

IPI stock opened at $25.09 on Friday. The company has a fifty day moving average price of $24.04 and a 200-day moving average price of $23.74. The company has a market capitalization of $333.22 million, a P/E ratio of -6.66 and a beta of 2.18. Intrepid Potash, Inc. has a 52-week low of $17.52 and a 52-week high of $28.00.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, August 5th. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). Intrepid Potash had a negative net margin of 19.19% and a negative return on equity of 2.02%. The company had revenue of $62.06 million during the quarter, compared to the consensus estimate of $50.88 million. During the same period last year, the firm posted $0.33 earnings per share. As a group, sell-side analysts forecast that Intrepid Potash, Inc. will post 0.27 earnings per share for the current fiscal year.

Intrepid Potash Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.