Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 26,088 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 26,088 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $28.68, for a total value of $748,203.84. Following the sale, the insider now owns 1,138,706 shares of the company’s stock, valued at approximately $32,658,088.08. This represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Down 0.8 %

NYSE IPI opened at $28.94 on Wednesday. The company has a 50 day moving average price of $26.06 and a two-hundred day moving average price of $25.19. Intrepid Potash, Inc. has a 12-month low of $18.55 and a 12-month high of $29.75. The stock has a market capitalization of $382.69 million, a PE ratio of -8.64 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 million. During the same quarter in the prior year, the company posted ($0.41) earnings per share. As a group, equities analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their target price on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a research report on Tuesday, March 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IPI. Empowered Funds LLC grew its holdings in Intrepid Potash by 5.2% during the third 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 during the last quarter. Quest Partners LLC raised its holdings in Intrepid Potash by 24,863.2% in the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after acquiring an additional 9,448 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Intrepid Potash during the 3rd quarter worth $602,000. State Street Corp boosted its holdings in Intrepid Potash by 0.6% during the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after acquiring an additional 1,402 shares during the period. Finally, Barclays PLC grew its position in shares of Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 10,599 shares during the last quarter. 56.13% of the stock is owned by institutional investors.

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.