Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 8,984 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 8,984 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $30.56, for a total value of $274,551.04. Following the transaction, the insider now directly owns 1,105,545 shares in the company, valued at $33,785,455.20. This represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

Shares of IPI opened at $29.39 on Monday. The stock has a 50-day moving average of $26.76 and a two-hundred day moving average of $25.54. The stock has a market cap of $388.67 million, a P/E ratio of -8.77 and a beta of 2.18. Intrepid Potash, Inc. has a one year low of $18.83 and a one year high of $31.29.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The firm had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same period last year, the firm earned ($0.41) EPS. Analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Intrepid Potash

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC increased its stake in shares of Intrepid Potash by 4.5% in the fourth quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company’s stock worth $14,423,000 after acquiring an additional 28,500 shares during the period. Azarias Capital Management L.P. grew its position in Intrepid Potash by 7.4% during the 4th quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company’s stock worth $14,412,000 after purchasing an additional 45,446 shares during the period. Geode Capital Management LLC grew its position in Intrepid Potash by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 234,908 shares of the basic materials company’s stock worth $5,151,000 after purchasing an additional 3,314 shares during the period. State Street Corp raised its stake in shares of Intrepid Potash by 0.6% during the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after buying an additional 1,402 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Intrepid Potash by 0.6% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock valued at $4,803,000 after buying an additional 1,272 shares during the period. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IPI has been the topic of several recent analyst reports. UBS Group cut their price objective on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a report on Tuesday, March 4th. StockNews.com lowered shares of Intrepid Potash from a “hold” rating to a “sell” rating in a research note on Thursday.

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.