Comerica Bank Sells 943 Shares of Phibro Animal Health Co. (NASDAQ:PAHC)

Comerica Bank reduced its position in shares of Phibro Animal Health Co. (NASDAQ:PAHC) by 9.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,118 shares of the company’s stock after selling 943 shares during the quarter. Comerica Bank’s holdings in Phibro Animal Health were worth $118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. increased its stake in Phibro Animal Health by 56.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 79,667 shares of the company’s stock worth $1,030,000 after purchasing an additional 28,584 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Phibro Animal Health by 7.2% during the first quarter. Illinois Municipal Retirement Fund now owns 11,430 shares of the company’s stock valued at $148,000 after buying an additional 765 shares during the period. Acadian Asset Management LLC increased its stake in shares of Phibro Animal Health by 32.8% during the first quarter. Acadian Asset Management LLC now owns 675,207 shares of the company’s stock valued at $8,726,000 after buying an additional 166,776 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Phibro Animal Health by 290.2% during the fourth quarter. BNP Paribas Financial Markets now owns 73,287 shares of the company’s stock valued at $849,000 after buying an additional 54,506 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Phibro Animal Health by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,393 shares of the company’s stock valued at $200,000 after buying an additional 1,063 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their price target on Phibro Animal Health from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.75.

Phibro Animal Health Price Performance

Shares of PAHC stock opened at $18.05 on Monday. Phibro Animal Health Co. has a 1-year low of $9.40 and a 1-year high of $19.55. The stock’s 50-day moving average is $17.72 and its 200 day moving average is $15.45. The company has a market cap of $731.03 million, a P/E ratio of 56.41, a PEG ratio of 4.54 and a beta of 0.57. The company has a debt-to-equity ratio of 1.69, a current ratio of 3.16 and a quick ratio of 1.67.

Phibro Animal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, September 4th. Phibro Animal Health’s payout ratio is currently 150.00%.

Phibro Animal Health Profile

Phibro Animal Health Corporation operates as an animal health and mineral nutrition company in the United States, Israel, Brazil, Ireland, and internationally. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets various products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs.