Robert P. Jornayvaz III Sells 30,000 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $29.00, for a total transaction of $870,000.00. Following the completion of the transaction, the insider now owns 1,444,513 shares in the company, valued at $41,890,877. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Trading Down 1.4 %

Shares of IPI opened at $21.79 on Friday. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The firm’s 50-day moving average price is $25.75 and its 200-day moving average price is $24.48. The firm has a market capitalization of $286.82 million, a price-to-earnings ratio of -6.50 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. During the same period in the previous year, the firm posted ($0.53) earnings per share. On average, research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group boosted their target price on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th.

Hedge Funds Weigh In On Intrepid Potash

A number of institutional investors have recently added to or reduced their stakes in IPI. Dimensional Fund Advisors LP grew its position in shares of Intrepid Potash by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock worth $17,281,000 after buying an additional 26,696 shares during the period. First Eagle Investment Management LLC grew its holdings in Intrepid Potash by 25.1% in the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock worth $14,123,000 after purchasing an additional 121,100 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Intrepid Potash by 0.8% during the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after purchasing an additional 1,732 shares during the last quarter. State Street Corp lifted its holdings in shares of Intrepid Potash by 0.6% during the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after purchasing an additional 1,402 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its position in shares of Intrepid Potash by 11.0% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 193,824 shares of the basic materials company’s stock worth $4,541,000 after purchasing an additional 19,200 shares in the last quarter. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Company Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.