Prudential Financial Inc. trimmed its stake in Innophos Holdings, Inc. (NASDAQ:IPHS) by 36.0% in the third quarter, HoldingsChannel reports. The firm owned 66,101 shares of the specialty chemicals company’s stock after selling 37,190 shares during the quarter. Prudential Financial Inc.’s holdings in Innophos were worth $2,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IPHS. Itau Unibanco Holding S.A. purchased a new stake in shares of Innophos in the second quarter worth approximately $144,000. Raymond James & Associates purchased a new stake in shares of Innophos in the second quarter worth approximately $209,000. Alps Advisors Inc. purchased a new stake in shares of Innophos in the second quarter worth approximately $213,000. Dynamic Technology Lab Private Ltd bought a new position in Innophos during the second quarter valued at approximately $217,000. Finally, OLD National Bancorp IN raised its position in Innophos by 35.9% during the third quarter. OLD National Bancorp IN now owns 10,864 shares of the specialty chemicals company’s stock valued at $482,000 after acquiring an additional 2,870 shares in the last quarter. 94.16% of the stock is owned by institutional investors and hedge funds.

Shares of IPHS opened at $24.13 on Friday. The company has a market cap of $473.33 million, a P/E ratio of 10.68 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.36 and a current ratio of 2.79. Innophos Holdings, Inc. has a twelve month low of $23.75 and a twelve month high of $50.40.

Innophos (NASDAQ:IPHS) last issued its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $196.93 million for the quarter, compared to the consensus estimate of $197.20 million. Innophos had a net margin of 2.49% and a return on equity of 13.30%. Innophos’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. Analysts predict that Innophos Holdings, Inc. will post 2.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 16th were issued a dividend of $0.48 per share. The ex-dividend date was Thursday, November 15th. This represents a $1.92 annualized dividend and a yield of 7.96%. Innophos’s dividend payout ratio (DPR) is presently 78.05%.

Several equities analysts recently weighed in on the stock. BidaskClub raised shares of Innophos from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. TheStreet lowered shares of Innophos from a “b-” rating to a “c+” rating in a research report on Thursday, August 23rd. Zacks Investment Research lowered shares of Innophos from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 25th. Finally, ValuEngine lowered shares of Innophos from a “hold” rating to a “sell” rating in a research report on Friday, October 12th.

TRADEMARK VIOLATION WARNING: “Innophos Holdings, Inc. (IPHS) Shares Sold by Prudential Financial Inc.” was published by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be read at https://www.watchlistnews.com/innophos-holdings-inc-iphs-shares-sold-by-prudential-financial-inc/2689584.html.

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.

See Also: Determine Your Level of Risk Tolerance

Want to see what other hedge funds are holding IPHS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innophos Holdings, Inc. (NASDAQ:IPHS).

Institutional Ownership by Quarter for Innophos (NASDAQ:IPHS)

Receive News & Ratings for Innophos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innophos and related companies with MarketBeat.com's FREE daily email newsletter.