Bessemer Group Inc. acquired a new stake in shares of Phibro Animal Health Corporation (NASDAQ:PAHC) during the second quarter, Holdings Channel reports. The fund acquired 16,800 shares of the company’s stock, valued at approximately $622,000.
A number of other hedge funds have also recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in shares of Phibro Animal Health Corporation by 80.9% in the second quarter. State of Alaska Department of Revenue now owns 3,690 shares of the company’s stock valued at $136,000 after buying an additional 1,650 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Phibro Animal Health Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,333 shares of the company’s stock valued at $122,000 after buying an additional 286 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Phibro Animal Health Corporation by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,370 shares of the company’s stock valued at $162,000 after buying an additional 150 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Phibro Animal Health Corporation by 79.2% in the first quarter. Victory Capital Management Inc. now owns 4,573 shares of the company’s stock valued at $129,000 after buying an additional 2,021 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Phibro Animal Health Corporation by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the company’s stock valued at $211,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 47.64% of the company’s stock.
Phibro Animal Health Corporation (NASDAQ:PAHC) opened at 39.85 on Friday. The stock’s 50 day moving average price is $38.35 and its 200 day moving average price is $32.69. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 24.75 and a beta of 1.35. Phibro Animal Health Corporation has a 12-month low of $20.14 and a 12-month high of $40.25.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, September 1st. Phibro Animal Health Corporation’s payout ratio is presently 24.69%.
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Several analysts have issued reports on the company. Credit Suisse Group cut Phibro Animal Health Corporation from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $29.00 to $36.00 in a research note on Friday, June 2nd. BidaskClub cut Phibro Animal Health Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Piper Jaffray Companies set a $35.00 price objective on Phibro Animal Health Corporation and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Zacks Investment Research upgraded Phibro Animal Health Corporation from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $30.50.
In related news, VP Daniel M. Bendheim sold 5,938 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $40.04, for a total value of $237,757.52. Following the completion of the sale, the vice president now owns 300 shares in the company, valued at $12,012. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Daniel M. Bendheim sold 1,443 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $40.05, for a total transaction of $57,792.15. Following the completion of the sale, the vice president now owns 300 shares of the company’s stock, valued at approximately $12,015. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,681 shares of company stock valued at $11,267,574. 48.09% of the stock is owned by corporate insiders.
About Phibro Animal Health Corporation
Phibro Animal Health Corporation (Phibro) is a global diversified animal health and mineral nutrition company. The Company operates in three segments, which include Animal Health, Mineral Nutrition and Performance Products. The Company offers various products, which include Animal health products, such as antibacterials, anticoccidials, vaccines, nutritional specialty products and mineral nutrition products.
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