Quest Partners LLC Raises Stock Position in Intrepid Potash, Inc. (NYSE:IPI)

Quest Partners LLC boosted its position in shares of Intrepid Potash, Inc. (NYSE:IPI) by 24,863.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,486 shares of the basic materials company’s stock after acquiring an additional 9,448 shares during the period. Quest Partners LLC owned 0.07% of Intrepid Potash worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of IPI. Vanguard Group Inc. boosted its holdings in Intrepid Potash by 2.6% in the first quarter. Vanguard Group Inc. now owns 553,185 shares of the basic materials company’s stock worth $11,539,000 after acquiring an additional 14,133 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Intrepid Potash by 14.7% in the second quarter. Bank of New York Mellon Corp now owns 51,775 shares of the basic materials company’s stock worth $1,213,000 after buying an additional 6,632 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Intrepid Potash by 5.0% during the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after buying an additional 861 shares during the last quarter. Acuitas Investments LLC increased its position in shares of Intrepid Potash by 21.0% in the 2nd quarter. Acuitas Investments LLC now owns 46,072 shares of the basic materials company’s stock valued at $1,079,000 after acquiring an additional 8,004 shares during the period. Finally, American Century Companies Inc. raised its stake in Intrepid Potash by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 184,337 shares of the basic materials company’s stock worth $4,319,000 after acquiring an additional 14,968 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Intrepid Potash Stock Performance

Shares of IPI opened at $27.57 on Wednesday. The company has a market capitalization of $362.82 million, a P/E ratio of -8.22 and a beta of 2.18. The business’s 50-day moving average is $25.29 and its two-hundred day moving average is $24.64. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $29.75.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.25). The company had revenue of $57.55 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted ($0.53) earnings per share. Analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current 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.