Sei Investments Co. Makes New Investment in Intrepid Potash, Inc $IPI

Sei Investments Co. purchased a new stake in shares of Intrepid Potash, Inc (NYSE:IPI) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,194 shares of the basic materials company’s stock, valued at approximately $992,000. Sei Investments Co. owned approximately 0.17% of Intrepid Potash at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in Intrepid Potash during the 1st quarter valued at approximately $2,484,000. SG Americas Securities LLC raised its position in shares of Intrepid Potash by 1,773.2% in the 1st quarter. SG Americas Securities LLC now owns 98,754 shares of the basic materials company’s stock valued at $4,224,000 after purchasing an additional 93,482 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its position in shares of Intrepid Potash by 21.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 267,097 shares of the basic materials company’s stock valued at $11,424,000 after purchasing an additional 47,781 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Intrepid Potash by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 734,413 shares of the basic materials company’s stock valued at $31,413,000 after purchasing an additional 16,813 shares in the last quarter. Finally, Gate City Capital Management LLC boosted its stake in shares of Intrepid Potash by 338.6% during the 4th quarter. Gate City Capital Management LLC now owns 914,026 shares of the basic materials company’s stock valued at $25,346,000 after buying an additional 705,638 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IPI. Zacks Research upgraded shares of Intrepid Potash from a “strong sell” rating to a “hold” rating in a research note on Monday. Freedom Capital upgraded shares of Intrepid Potash to a “strong-buy” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Finally, UBS Group boosted their target price on shares of Intrepid Potash from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.00.

Intrepid Potash Stock Performance

IPI stock opened at $36.50 on Thursday. Intrepid Potash, Inc has a 1 year low of $22.55 and a 1 year high of $50.34. The stock has a market capitalization of $491.29 million, a price-to-earnings ratio of 18.43 and a beta of 1.24. The stock’s fifty day moving average is $34.63 and its two-hundred day moving average is $37.06.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.22). The firm had revenue of $66.69 million for the quarter, compared to the consensus estimate of $64.86 million. Intrepid Potash had a return on equity of 4.74% and a net margin of 8.94%. As a group, analysts predict that Intrepid Potash, Inc will post 1.86 EPS for the current fiscal year.

Intrepid Potash Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.