Raymond James & Associates bought a new stake in shares of Innophos Holdings, Inc. (NASDAQ:IPHS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,389 shares of the specialty chemicals company’s stock, valued at approximately $209,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Innophos during the 2nd quarter valued at about $144,000. Ifrah Financial Services Inc. purchased a new position in Innophos during the 2nd quarter valued at about $210,000. Alps Advisors Inc. purchased a new position in Innophos during the 2nd quarter valued at about $213,000. Piedmont Investment Advisors LLC purchased a new position in Innophos during the 2nd quarter valued at about $217,000. Finally, Nisa Investment Advisors LLC lifted its position in Innophos by 66.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,235 shares of the specialty chemicals company’s stock valued at $297,000 after acquiring an additional 2,500 shares during the period. 93.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Innophos from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 25th. BidaskClub cut shares of Innophos from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. ValuEngine cut shares of Innophos from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Finally, TheStreet cut shares of Innophos from a “b-” rating to a “c+” rating in a research report on Thursday, August 23rd.
Innophos (NASDAQ:IPHS) last issued its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Innophos had a net margin of 2.21% and a return on equity of 14.28%. The business had revenue of $196.93 million for the quarter, compared to analysts’ expectations of $197.20 million. During the same period last year, the business earned $0.78 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, research analysts forecast that Innophos Holdings, Inc. will post 2.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.92 dividend on an annualized basis and a yield of 6.26%. Innophos’s dividend payout ratio (DPR) is currently 78.05%.
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.
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