Innophos (IPHS) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Innophos (NASDAQ:IPHS) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.
According to Zacks, “Innophos, Inc., is one of the leading North American manufacturers of specialty phosphates, serving a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. Innophos’ market-leading positions derive from its experience and dedication to customer service and innovation. “
IPHS has been the subject of a number of other reports. BidaskClub upgraded Innophos from a sell rating to a hold rating in a research note on Thursday. KeyCorp reiterated a hold rating on shares of Innophos in a research note on Wednesday, November 1st.
Innophos (NASDAQ:IPHS) last announced its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Innophos had a return on equity of 13.90% and a net margin of 6.19%. The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $179.33 million. During the same period in the previous year, the company earned $0.69 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. research analysts expect that Innophos will post 2.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Friday, November 17th were paid a $0.48 dividend. The ex-dividend date was Thursday, November 16th. This represents a $1.92 dividend on an annualized basis and a yield of 4.28%. Innophos’s dividend payout ratio (DPR) is 88.07%.
A number of large investors have recently bought and sold shares of the stock. Alps Advisors Inc. grew its stake in Innophos by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,141 shares of the specialty chemicals company’s stock worth $401,000 after purchasing an additional 24 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Innophos by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,962 shares of the specialty chemicals company’s stock worth $656,000 after purchasing an additional 130 shares in the last quarter. Texas Permanent School Fund grew its stake in Innophos by 0.9% in the second quarter. Texas Permanent School Fund now owns 14,220 shares of the specialty chemicals company’s stock worth $623,000 after purchasing an additional 131 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Innophos by 5.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,824 shares of the specialty chemicals company’s stock worth $124,000 after purchasing an additional 157 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in Innophos by 3.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,380 shares of the specialty chemicals company’s stock worth $279,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.
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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. The Company’s segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and Granular Triple Super Phosphate (GTSP) & Other.
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