Intrepid Potash, Inc. (NYSE:IPI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,951 shares of the basic materials company's stock after selling 10,944 shares during the quarter. Bank of New York Mellon Corp owned about 0.26% of Intrepid Potash worth $744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Peapod Lane Capital LLC purchased a new stake in Intrepid Potash in the fourth quarter valued at approximately $1,269,000. Azarias Capital Management L.P. lifted its stake 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 valued at $14,412,000 after acquiring an additional 45,446 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Intrepid Potash during the 3rd quarter valued at approximately $602,000. Barclays PLC boosted its holdings in shares of Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company's stock valued at $344,000 after acquiring an additional 10,599 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company's stock worth $228,000 after acquiring an additional 9,448 shares during the period. Hedge funds and other institutional investors own 56.13% of the company's stock.

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Insider Activity

In related news, major shareholder Robert P. Jornayvaz III sold 8,984 shares of Intrepid Potash stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $30.56, for a total value of $274,551.04. Following the sale, the insider now owns 1,105,545 shares of the company's stock, valued at approximately $33,785,455.20. This trade represents a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 227,805 shares of company stock worth $6,168,096 in the last ninety days. Company insiders own 18.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on IPI. StockNews.com downgraded shares of Intrepid Potash from a "hold" rating to a "sell" rating in a research report on Thursday. UBS Group decreased their price objective on Intrepid Potash from $21.00 to $20.00 and set a "sell" rating for the company in a report on Tuesday, March 4th.

Intrepid Potash Stock Down 2.0 %

Shares of NYSE IPI traded down $0.60 during midday trading on Friday, reaching $29.39. 201,463 shares of the stock were exchanged, compared to its average volume of 102,294. The firm has a market cap of $388.67 million, a price-to-earnings ratio of -8.77 and a beta of 2.18. The firm has a 50-day simple moving average of $26.76 and a two-hundred day simple moving average of $25.54. Intrepid Potash, Inc. has a twelve month low of $18.83 and a twelve month high of $31.29.

Intrepid Potash (NYSE:IPI - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 million. During the same quarter in the prior year, the business posted ($0.41) EPS. Research analysts expect that Intrepid Potash, Inc. will post -0.17 EPS 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.