Innophos Holdings, Inc. (IPHS) Shares Sold by Prudential Financial Inc.
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.
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.
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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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