Barclays PLC Has $344,000 Position in Intrepid Potash, Inc. (NYSE:IPI)

Barclays PLC raised its stake in Intrepid Potash, Inc. (NYSE:IPI) by 282.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,350 shares of the basic materials company’s stock after purchasing an additional 10,599 shares during the quarter. Barclays PLC’s holdings in Intrepid Potash were worth $344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in Intrepid Potash by 5.0% in the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after buying an additional 861 shares during the last quarter. State Street Corp grew its position in Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after acquiring an additional 1,402 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Intrepid Potash by 5.2% during the 2nd quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after purchasing an additional 2,306 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Intrepid Potash by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 53,773 shares of the basic materials company’s stock valued at $1,291,000 after purchasing an additional 2,680 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Intrepid Potash in the 3rd quarter valued at $142,000. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group boosted their price target on Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Insider Activity at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 159,513 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $25.12, for a total transaction of $4,006,966.56. Following the completion of the sale, the insider now owns 1,285,000 shares of the company’s stock, valued at approximately $32,279,200. This trade represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 401,097 shares of company stock valued at $10,189,635 in the last 90 days. 18.00% of the stock is owned by corporate insiders.

Intrepid Potash Stock Performance

NYSE IPI opened at $22.63 on Friday. Intrepid Potash, Inc. has a twelve month low of $17.52 and a twelve month high of $29.75. The stock has a market cap of $297.88 million, a PE ratio of -6.76 and a beta of 2.21. The firm has a 50-day simple moving average of $25.42 and a 200 day simple moving average of $24.38.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). The business had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period last year, the firm earned ($0.53) EPS. Research analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Intrepid Potash Company 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.