Prudential Financial Inc. Sells 24,600 Shares of Intrepid Potash, Inc. (NYSE:IPI)

Prudential Financial Inc. trimmed its position in Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 43.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,415 shares of the basic materials company's stock after selling 24,600 shares during the period. Prudential Financial Inc. owned approximately 0.25% of Intrepid Potash worth $711,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IPI. The Manufacturers Life Insurance Company acquired a new position in Intrepid Potash during the third quarter worth $602,000. State Street Corp raised its holdings in shares of Intrepid Potash by 0.6% in the 3rd 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. Barclays PLC lifted its position in 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 in the last quarter. Geode Capital Management LLC boosted its stake in Intrepid Potash by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company's stock valued at $5,560,000 after purchasing an additional 1,732 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Intrepid Potash by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company's stock valued at $539,000 after purchasing an additional 2,242 shares during the last quarter. 56.13% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several analysts have recently commented on IPI shares. StockNews.com downgraded Intrepid Potash from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. UBS Group dropped their price objective on Intrepid Potash from $21.00 to $20.00 and set a "sell" rating on the stock in a research note on Tuesday, March 4th.

Insider Buying and Selling

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 24,567 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $26.93, for a total transaction of $661,589.31. Following the completion of the transaction, the insider now owns 104,663 shares in the company, valued at $2,818,574.59. This trade represents a 19.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 227,822 shares of company stock valued at $6,168,606. 18.00% of the stock is owned by insiders.

Intrepid Potash Stock Up 5.8 %

IPI stock traded up $1.50 during trading on Friday, reaching $27.60. The stock had a trading volume of 149,754 shares, compared to its average volume of 105,791. The company has a market capitalization of $365.06 million, a price-to-earnings ratio of -8.24 and a beta of 1.78. Intrepid Potash, Inc. has a one year low of $18.83 and a one year high of $31.29. The company's 50 day moving average is $26.81 and its two-hundred day moving average is $25.78.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings results 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). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The business had revenue of $55.80 million for the quarter, compared to analysts' expectations of $50.35 million. During the same period in the previous year, the business posted ($0.41) earnings per share. As a group, research analysts predict that Intrepid Potash, Inc. will post -0.17 earnings per share 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.