BlueMountain Capital Management LLC Takes Position in Intrepid Potash, Inc. (IPI)

BlueMountain Capital Management LLC bought a new position in shares of Intrepid Potash, Inc. (NYSE:IPI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 30,564 shares of the basic materials company’s stock, valued at approximately $125,000.

A number of other large investors have also bought and sold shares of IPI. MetLife Investment Advisors LLC lifted its position in shares of Intrepid Potash by 113.9% in the 1st quarter. MetLife Investment Advisors LLC now owns 47,533 shares of the basic materials company’s stock worth $173,000 after purchasing an additional 25,309 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Intrepid Potash in the 2nd quarter worth approximately $252,000. Cambria Investment Management L.P. lifted its position in shares of Intrepid Potash by 224.9% in the 1st quarter. Cambria Investment Management L.P. now owns 69,244 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 47,934 shares during the period. New York State Common Retirement Fund lifted its position in shares of Intrepid Potash by 24.4% in the 1st quarter. New York State Common Retirement Fund now owns 98,007 shares of the basic materials company’s stock worth $357,000 after purchasing an additional 19,200 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Intrepid Potash by 68.9% in the 1st quarter. JPMorgan Chase & Co. now owns 103,741 shares of the basic materials company’s stock worth $377,000 after purchasing an additional 42,321 shares during the period. Institutional investors and hedge funds own 45.56% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Intrepid Potash from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Wednesday, July 25th. BMO Capital Markets lowered their price objective on shares of Intrepid Potash from $4.00 to $3.25 and set a “market perform” rating for the company in a research note on Monday, August 6th. Finally, ValuEngine upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $4.13.

NYSE:IPI opened at $3.63 on Wednesday. The firm has a market capitalization of $481.16 million, a PE ratio of -20.17 and a beta of 1.11. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.47 and a quick ratio of 1.53. Intrepid Potash, Inc. has a twelve month low of $3.12 and a twelve month high of $5.31.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Thursday, August 2nd. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05). The company had revenue of $54.00 million during the quarter, compared to the consensus estimate of $43.08 million. Intrepid Potash had a negative net margin of 1.47% and a negative return on equity of 1.15%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS. analysts forecast that Intrepid Potash, Inc. will post 0.1 EPS for the current fiscal year.

In other Intrepid Potash news, insider Robert P. Jornayvaz III purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was acquired at an average price of $3.24 per share, for a total transaction of $32,400.00. Following the purchase, the insider now owns 1,206,650 shares of the company’s stock, valued at approximately $3,909,546. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert P. Jornayvaz III purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were acquired at an average price of $3.40 per share, with a total value of $68,000.00. Following the purchase, the insider now directly owns 1,206,650 shares in the company, valued at approximately $4,102,610. The disclosure for this purchase can be found here. Insiders bought a total of 47,700 shares of company stock valued at $159,224 in the last quarter. 27.70% of the stock is currently owned by company insiders.

Intrepid Potash Profile

Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.

See Also: Earnings Per Share (EPS) Explained

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Institutional Ownership by Quarter for Intrepid Potash (NYSE:IPI)

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