Innophos Holdings Inc. (IPHS) Sees Large Volume Increase
Innophos Holdings Inc. (NASDAQ:IPHS) saw unusually-high trading volume on Monday . Approximately 256,578 shares traded hands during mid-day trading, an increase of 133% from the previous session’s volume of 109,944 shares.The stock last traded at $37.48 and had previously closed at $37.29.
Separately, Zacks Investment Research upgraded shares of Innophos Holdings from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a research note on Thursday, August 11th.
The stock has a 50-day moving average price of $40.97 and a 200 day moving average price of $38.03. The firm has a market cap of $724.23 million, a price-to-earnings ratio of 28.87 and a beta of 0.77.
Innophos Holdings (NASDAQ:IPHS) last issued its earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. Innophos Holdings had a return on equity of 9.83% and a net margin of 3.47%. The business earned $181.90 million during the quarter, compared to analysts’ expectations of $199.70 million. During the same quarter in the previous year, the business earned $0.65 EPS. The company’s revenue for the quarter was down 16.3% on a year-over-year basis. Equities research analysts predict that Innophos Holdings Inc. will post $2.44 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Wednesday, August 17th. Innophos Holdings’s payout ratio is currently 146.57%.
In related news, Director Robert J. Zatta purchased 1,000 shares of Innophos Holdings stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average cost of $40.31 per share, with a total value of $40,310.00. Following the transaction, the director now owns 6,351 shares of the company’s stock, valued at approximately $256,008.81. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph Golowski sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $40.46, for a total value of $202,300.00. Following the transaction, the vice president now directly owns 28,069 shares in the company, valued at $1,135,671.74. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in IPHS. PineBridge Investments L.P. raised its position in Innophos Holdings by 8.5% in the second quarter. PineBridge Investments L.P. now owns 2,455 shares of the company’s stock valued at $104,000 after buying an additional 193 shares during the period. First Mercantile Trust Co. bought a new position in Innophos Holdings during the second quarter valued at approximately $109,000. Teacher Retirement System of Texas raised its position in Innophos Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,684 shares of the company’s stock valued at $113,000 after buying an additional 325 shares during the period. BlackRock Inc. raised its position in Innophos Holdings by 121.0% in the second quarter. BlackRock Inc. now owns 3,021 shares of the company’s stock valued at $128,000 after buying an additional 1,654 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in Innophos Holdings by 13.2% in the second quarter. Public Employees Retirement System of Ohio now owns 3,132 shares of the company’s stock valued at $132,000 after buying an additional 366 shares during the period. 93.80% of the stock is currently owned by hedge funds and other institutional investors.
Innophos Holdings Company Profile
Innophos Holdings, Inc is a producer of nutritional specialty ingredients with applications in food, beverage, dietary supplements, pharmaceutical, oral care and industrial end markets. The Company also provides bioactive mineral and nutritional ingredients. Its segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and GTSP & Other.
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