Intrepid Potash, Inc (IPI) Position Held by Investment Management of Virginia LLC

Investment Management of Virginia LLC held its stake in Intrepid Potash, Inc (NYSE:IPI) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,000 shares of the basic materials company’s stock at the end of the second quarter. Investment Management of Virginia LLC’s holdings in Intrepid Potash were worth $118,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Intrepid Potash by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 568,163 shares of the basic materials company’s stock worth $977,000 after buying an additional 7,793 shares during the period. Royce & Associates LP raised its stake in Intrepid Potash by 7.7% in the first quarter. Royce & Associates LP now owns 339,406 shares of the basic materials company’s stock worth $584,000 after buying an additional 24,406 shares during the period. Parametric Portfolio Associates LLC raised its stake in Intrepid Potash by 30.6% in the first quarter. Parametric Portfolio Associates LLC now owns 126,394 shares of the basic materials company’s stock worth $217,000 after buying an additional 29,646 shares during the period. Wellington Management Group LLP raised its stake in Intrepid Potash by 180.0% in the first quarter. Wellington Management Group LLP now owns 126,757 shares of the basic materials company’s stock worth $218,000 after buying an additional 81,484 shares during the period. Finally, California Public Employees Retirement System raised its stake in Intrepid Potash by 10.9% in the first quarter. California Public Employees Retirement System now owns 974,500 shares of the basic materials company’s stock worth $1,676,000 after buying an additional 96,100 shares during the period. 42.06% of the stock is owned by institutional investors.

Shares of Intrepid Potash, Inc (IPI) opened at 3.29 on Monday. The company’s market cap is $403.43 million. The stock has a 50 day moving average price of $2.99 and a 200-day moving average price of $2.25. Intrepid Potash, Inc has a 1-year low of $0.93 and a 1-year high of $3.93.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. Intrepid Potash had a negative net margin of 30.56% and a negative return on equity of 12.37%. The firm had revenue of $43.90 million during the quarter, compared to the consensus estimate of $37.75 million. During the same quarter last year, the firm earned ($0.17) EPS. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. Equities research analysts forecast that Intrepid Potash, Inc will post ($0.24) earnings per share for the current year.

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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BMO Capital Markets reissued a “hold” rating and issued a $2.00 target price on shares of Intrepid Potash in a research note on Friday, July 7th. BidaskClub raised Intrepid Potash from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, UBS AG lowered Intrepid Potash from a “neutral” rating to a “sell” rating and boosted their target price for the company from $2.00 to $2.50 in a research note on Monday, August 7th.

In other Intrepid Potash news, major shareholder Clearway Capital Management Lt purchased 460,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $3.37 per share, with a total value of $1,550,200.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert P. Jornayvaz III purchased 13,800 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was acquired at an average cost of $2.10 per share, with a total value of $28,980.00. Following the acquisition, the insider now owns 565,390 shares in the company, valued at approximately $1,187,319. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 2,118,731 shares of company stock valued at $6,577,647. 27.20% of the stock is owned by insiders.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.

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