JPMorgan Chase & Co. Has $3.34 Million Stock Position in Intrepid Potash, Inc. (NYSE:IPI)

JPMorgan Chase & Co. raised its position in Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 577.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,199 shares of the basic materials company's stock after purchasing an additional 129,722 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.15% of Intrepid Potash worth $3,336,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Peapod Lane Capital LLC bought a new position in Intrepid Potash during the fourth quarter valued at about $1,269,000. Raymond James Financial Inc. bought a new position in shares of Intrepid Potash in the 4th quarter valued at approximately $1,028,000. Azarias Capital Management L.P. lifted its holdings in Intrepid Potash by 7.4% in the 4th quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company's stock worth $14,412,000 after purchasing an additional 45,446 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Intrepid Potash by 4.5% during the fourth quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company's stock worth $14,423,000 after purchasing an additional 28,500 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in Intrepid Potash during the fourth quarter valued at approximately $235,000. 56.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IPI has been the subject of a number of analyst reports. StockNews.com cut shares of Intrepid Potash from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. UBS Group cut their target price on shares of Intrepid Potash from $20.00 to $19.00 and set a "sell" rating for the company in a research report on Wednesday, April 16th.

Insider Buying and Selling

In other Intrepid Potash 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 transaction of $274,551.04. Following the sale, the insider now owns 1,105,545 shares in the company, valued at $33,785,455.20. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 203,255 shares of company stock valued at $5,507,017 over the last three months. 18.00% of the stock is owned by corporate insiders.

Intrepid Potash Stock Performance

Shares of IPI traded down $0.05 during mid-day trading on Friday, hitting $33.09. The company's stock had a trading volume of 152,218 shares, compared to its average volume of 109,694. The stock's 50-day moving average is $27.58 and its two-hundred day moving average is $26.13. The firm has a market capitalization of $440.73 million, a PE ratio of -9.88 and a beta of 1.78. Intrepid Potash, Inc. has a one year low of $19.34 and a one year high of $33.52.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 million. During the same period last year, the company earned ($0.41) earnings per share. 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.