The Manufacturers Life Insurance Company Invests $602,000 in Intrepid Potash, Inc. (NYSE:IPI)

The Manufacturers Life Insurance Company bought a new stake in shares of Intrepid Potash, Inc. (NYSE:IPI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,098 shares of the basic materials company’s stock, valued at approximately $602,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC boosted its position in shares of Intrepid Potash by 25.1% during the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock valued at $14,123,000 after purchasing an additional 121,100 shares in the last quarter. Glenorchy Capital Ltd lifted its position in Intrepid Potash by 95.7% during the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after buying an additional 30,425 shares during the period. Pinnacle Associates Ltd. bought a new stake in shares of Intrepid Potash during the 3rd quarter valued at $3,100,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Intrepid Potash in the 2nd quarter worth about $979,000. Finally, 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. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Intrepid Potash Trading Up 0.5 %

NYSE IPI opened at $25.16 on Friday. Intrepid Potash, Inc. has a 12 month low of $17.52 and a 12 month high of $29.75. The stock’s fifty day moving average price is $25.94 and its 200-day moving average price is $24.67. The stock has a market cap of $331.18 million, a P/E ratio of -7.51 and a beta of 2.21.

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

Intrepid Potash 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.