Caxton Associates LLP Acquires Shares of 17,559 Intrepid Potash, Inc $IPI

Caxton Associates LLP acquired a new stake in shares of Intrepid Potash, Inc (NYSE:IPI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,559 shares of the basic materials company’s stock, valued at approximately $751,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Gate City Capital Management LLC raised its holdings in shares of Intrepid Potash by 338.6% in the 4th quarter. Gate City Capital Management LLC now owns 914,026 shares of the basic materials company’s stock worth $25,346,000 after acquiring an additional 705,638 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Intrepid Potash by 2.3% during 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 during the last quarter. Vanguard Group Inc. increased its holdings in Intrepid Potash by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 726,027 shares of the basic materials company’s stock worth $22,202,000 after purchasing an additional 81,121 shares in the last quarter. Azarias Capital Management L.P. increased its holdings in Intrepid Potash by 13.5% during the 4th quarter. Azarias Capital Management L.P. now owns 294,870 shares of the basic materials company’s stock worth $8,177,000 after purchasing an additional 35,082 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC raised its stake in shares of Intrepid Potash by 21.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 267,097 shares of the basic materials company’s stock worth $11,424,000 after purchasing an additional 47,781 shares during the last quarter. 56.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Lori A. Lancaster sold 4,800 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $45.24, for a total transaction of $217,152.00. Following the completion of the transaction, the director directly owned 10,540 shares of the company’s stock, valued at $476,829.60. This represents a 31.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Intrepid Potash Price Performance

NYSE IPI opened at $34.23 on Monday. The stock has a market capitalization of $459.78 million, a price-to-earnings ratio of 32.30 and a beta of 1.24. Intrepid Potash, Inc has a one year low of $22.55 and a one year high of $50.34. The business’s fifty day moving average is $35.74 and its 200-day moving average is $36.76.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Intrepid Potash had a net margin of 4.68% and a return on equity of 4.53%. The company had revenue of $98.69 million during the quarter, compared to analyst estimates of $88.30 million. Research analysts expect that Intrepid Potash, Inc will post 1.62 EPS for the current fiscal year.

Analysts Set New Price Targets

IPI has been the topic of a number of recent research reports. Weiss Ratings upgraded Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 22nd. UBS Group upped their price target on Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a report on Thursday, May 14th. Finally, Zacks Research cut Intrepid Potash from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Intrepid Potash has a consensus rating of “Sell” and a consensus price target of $26.00.

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.