Intrepid Potash, Inc $IPI Position Trimmed by Azarias Capital Management L.P.

Azarias Capital Management L.P. decreased its holdings in shares of Intrepid Potash, Inc (NYSE:IPI) by 41.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173,654 shares of the basic materials company’s stock after selling 121,216 shares during the period. Intrepid Potash accounts for 3.3% of Azarias Capital Management L.P.’s portfolio, making the stock its 10th largest position. Azarias Capital Management L.P.’s holdings in Intrepid Potash were worth $7,427,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Intrepid Potash by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock worth $193,000 after acquiring an additional 312 shares in the last quarter. Empowered Funds LLC boosted its stake in Intrepid Potash by 7.3% in the 1st quarter. Empowered Funds LLC now owns 60,623 shares of the basic materials company’s stock worth $1,782,000 after purchasing an additional 4,137 shares in the last quarter. Legal & General Group Plc boosted its stake in Intrepid Potash by 123.0% in the 2nd quarter. Legal & General Group Plc now owns 2,112 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 1,165 shares in the last quarter. Quantbot Technologies LP bought a new position in Intrepid Potash in the 2nd quarter worth about $420,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Intrepid Potash during the 2nd quarter valued at about $3,441,000. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IPI shares. Weiss Ratings upgraded shares of Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. UBS Group upped their target price on shares of Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Intrepid Potash has a consensus rating of “Reduce” and an average target price of $26.00.

Insider Transactions at Intrepid Potash

In other news, Director Lori A. Lancaster sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $45.24, for a total transaction of $217,152.00. Following the sale, the director owned 10,540 shares of the company’s stock, valued at $476,829.60. This trade represents a 31.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.30% of the company’s stock.

Intrepid Potash Price Performance

Shares of NYSE:IPI opened at $34.47 on Monday. Intrepid Potash, Inc has a 1 year low of $22.55 and a 1 year high of $50.34. The company has a market cap of $462.89 million, a P/E ratio of 32.52 and a beta of 1.22. The stock’s fifty day moving average price is $38.13 and its 200-day moving average price is $35.49.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%.The company had revenue of $98.69 million during the quarter, compared to the consensus estimate of $88.30 million. On average, sell-side analysts anticipate that Intrepid Potash, Inc will post 1.62 earnings per share for the current year.

About Intrepid Potash

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.