Deprince Race & Zollo Inc. trimmed its holdings in Innophos Holdings, Inc. (NASDAQ:IPHS) by 12.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 447,436 shares of the specialty chemicals company’s stock after selling 60,939 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 2.27% of Innophos worth $13,025,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Innophos by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,084,227 shares of the specialty chemicals company’s stock worth $26,596,000 after purchasing an additional 38,309 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Innophos by 87.6% during the first quarter. BNP Paribas Arbitrage SA now owns 5,504 shares of the specialty chemicals company’s stock worth $166,000 after purchasing an additional 2,570 shares during the period. SG Americas Securities LLC lifted its position in Innophos by 81.9% during the first quarter. SG Americas Securities LLC now owns 17,632 shares of the specialty chemicals company’s stock worth $531,000 after purchasing an additional 7,937 shares during the period. Rhumbline Advisers lifted its position in Innophos by 0.6% during the first quarter. Rhumbline Advisers now owns 58,275 shares of the specialty chemicals company’s stock worth $1,756,000 after purchasing an additional 342 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Innophos by 2.5% in the first quarter. Comerica Bank now owns 19,410 shares of the specialty chemicals company’s stock worth $626,000 after acquiring an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.
Shares of IPHS stock opened at $32.51 on Thursday. Innophos Holdings, Inc. has a 52-week low of $22.57 and a 52-week high of $46.65. The stock has a market cap of $565.73 million, a price-to-earnings ratio of 14.26 and a beta of 1.43. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.41 and a current ratio of 2.85. The firm has a fifty day moving average of $27.45 and a 200-day moving average of $29.36.
Innophos (NASDAQ:IPHS) last posted its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. Innophos had a return on equity of 12.35% and a net margin of 3.79%. The business had revenue of $185.04 million during the quarter, compared to the consensus estimate of $196.55 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Innophos’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, sell-side analysts predict that Innophos Holdings, Inc. will post 2.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date was Thursday, August 22nd. Innophos’s dividend payout ratio is currently 84.21%.
A number of research firms have recently commented on IPHS. BidaskClub raised shares of Innophos from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. Zacks Investment Research lowered Innophos from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, TheStreet downgraded Innophos from a “b-” rating to a “c+” rating in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.00.
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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