23,194 Shares in Intrepid Potash, Inc $IPI Acquired by Sei Investments Co.

Sei Investments Co. bought a new stake in Intrepid Potash, Inc (NYSE:IPI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,194 shares of the basic materials company’s stock, valued at approximately $992,000.

Several other hedge funds have also recently added to or reduced their stakes in IPI. EverSource Wealth Advisors LLC increased its holdings in shares of Intrepid Potash by 197.8% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 544 shares during the period. International Assets Investment Management LLC acquired a new stake in Intrepid Potash in the first quarter worth about $37,000. Signaturefd LLC lifted its holdings in Intrepid Potash by 668.1% in the fourth quarter. Signaturefd LLC now owns 914 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 795 shares during the period. Tower Research Capital LLC TRC grew its position in Intrepid Potash by 80.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock valued at $49,000 after buying an additional 607 shares in the last quarter. Finally, State of Wyoming bought a new position in Intrepid Potash in the 2nd quarter valued at about $54,000. Institutional investors own 56.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on IPI. Zacks Research raised shares of Intrepid Potash from a “strong sell” rating to a “hold” rating in a research note on Monday. UBS Group increased their price objective on shares of Intrepid Potash from $26.00 to $29.00 and gave the company a “sell” rating in a report on Wednesday. Weiss Ratings upgraded shares of Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Finally, Freedom Capital raised Intrepid Potash to a “strong-buy” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Intrepid Potash has an average rating of “Hold” and a consensus price target of $29.00.

Intrepid Potash Price Performance

Intrepid Potash stock opened at $36.50 on Thursday. Intrepid Potash, Inc has a fifty-two week low of $22.55 and a fifty-two week high of $50.34. The firm’s 50 day simple moving average is $34.63 and its 200-day simple moving average is $37.06. The company has a market cap of $491.29 million, a P/E ratio of 18.43 and a beta of 1.24.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.22). Intrepid Potash had a net margin of 8.94% and a return on equity of 4.74%. The firm had revenue of $66.69 million during the quarter, compared to analysts’ expectations of $64.86 million. On average, analysts expect that Intrepid Potash, Inc will post 1.86 EPS for the current fiscal year.

About Intrepid Potash

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.