Robert P. Jornayvaz III Sells 159,513 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 159,513 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.12, for a total transaction of $4,006,966.56. Following the completion of the sale, the insider now directly owns 1,285,000 shares in the company, valued at $32,279,200. This represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

IPI stock opened at $21.79 on Friday. The firm has a market cap of $286.82 million, a price-to-earnings ratio of -6.50 and a beta of 2.21. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The firm has a fifty day moving average price of $25.75 and a two-hundred day moving average price of $24.48.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. During the same period in the prior year, the company earned ($0.53) EPS. As a group, analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Intrepid Potash by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock valued at $17,281,000 after purchasing an additional 26,696 shares during the period. First Eagle Investment Management LLC lifted its stake 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 valued at $14,123,000 after buying an additional 121,100 shares during the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 1,732 shares during the period. State Street Corp grew its position 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 worth $5,452,000 after acquiring an additional 1,402 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its holdings 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 acquiring an additional 19,200 shares during the period. 56.13% of the stock is owned by institutional investors.

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.