Intrepid Potash, Inc. (NYSE:IPI) Shares Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC lifted its stake in shares of Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 657,970 shares of the basic materials company's stock after acquiring an additional 28,500 shares during the period. First Eagle Investment Management LLC owned 4.97% of Intrepid Potash worth $14,423,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IPI. Peapod Lane Capital LLC purchased a new position in Intrepid Potash during the fourth quarter worth about $1,269,000. Raymond James Financial Inc. purchased a new position in Intrepid Potash during the fourth quarter worth about $1,028,000. Azarias Capital Management L.P. lifted its position in Intrepid Potash by 7.4% during the fourth quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company's stock worth $14,412,000 after buying an additional 45,446 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Intrepid Potash during the third quarter worth about $602,000. Finally, Barclays PLC lifted its position in Intrepid Potash by 282.6% during the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company's stock worth $344,000 after buying an additional 10,599 shares during the period. Institutional investors and hedge funds own 56.13% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced their target price on Intrepid Potash from $21.00 to $20.00 and set a "sell" rating on the stock in a research report on Tuesday, March 4th.

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Intrepid Potash Trading Up 0.8 %

Shares of Intrepid Potash stock traded up $0.24 during trading hours on Wednesday, reaching $29.16. The stock had a trading volume of 148,991 shares, compared to its average volume of 97,354. The firm has a 50 day simple moving average of $26.06 and a two-hundred day simple moving average of $25.19. The firm has a market capitalization of $385.60 million, a price-to-earnings ratio of -8.70 and a beta of 2.18. Intrepid Potash, Inc. has a 1 year low of $18.55 and a 1 year high of $29.75.

Intrepid Potash (NYSE:IPI - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations 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 quarter last year, the business earned ($0.41) earnings per share. Sell-side analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Insider Transactions at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 5,600 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $27.35, for a total value of $153,160.00. Following the transaction, the insider now directly owns 99,063 shares in the company, valued at $2,709,373.05. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 203,345 shares of company stock worth $5,420,289 in the last three months. 18.00% of the stock is currently owned by company insiders.

About Intrepid Potash

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.