Swiss National Bank lowered its stake in shares of Innophos Holdings Inc. (NASDAQ:IPHS) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 32,100 shares of the company’s stock after selling 1,100 shares during the period. Swiss National Bank owned about 0.17% of Innophos Holdings worth $1,355,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Strs Ohio raised its stake in Innophos Holdings by 9.3% in the second quarter. Strs Ohio now owns 5,900 shares of the company’s stock valued at $249,000 after buying an additional 500 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Innophos Holdings by 113.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,448 shares of the company’s stock valued at $272,000 after buying an additional 3,423 shares during the last quarter. Arizona State Retirement System raised its stake in Innophos Holdings by 4.2% in the first quarter. Arizona State Retirement System now owns 9,873 shares of the company’s stock valued at $305,000 after buying an additional 400 shares during the last quarter. Capstone Asset Management Co. raised its stake in Innophos Holdings by 1.2% in the second quarter. Capstone Asset Management Co. now owns 8,360 shares of the company’s stock valued at $353,000 after buying an additional 100 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. acquired a new stake in Innophos Holdings during the second quarter valued at $363,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.
Innophos Holdings Inc. (NASDAQ:IPHS) traded down 1.63% during trading on Thursday, hitting $37.53. 99,803 shares of the stock traded hands. The company has a 50-day moving average price of $40.20 and a 200 day moving average price of $38.40. The stock has a market cap of $722.11 million, a PE ratio of 28.78 and a beta of 0.77. Innophos Holdings Inc. has a one year low of $22.06 and a one year high of $44.42.
Innophos Holdings (NASDAQ:IPHS) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. Innophos Holdings had a return on equity of 9.83% and a net margin of 3.47%. The company had revenue of $181.90 million for the quarter, compared to the consensus estimate of $199.70 million. During the same quarter last year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was down 16.3% compared to the same quarter last year. Analysts expect that Innophos Holdings Inc. will post $2.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $1.92 annualized dividend and a yield of 5.03%. Innophos Holdings’s dividend payout ratio (DPR) is presently 146.57%.
Separately, Zacks Investment Research upgraded shares of Innophos Holdings from a “hold” rating to a “strong-buy” rating and set a $47.00 target price for the company in a research note on Thursday, August 11th.
In related news, Director Robert J. Zatta purchased 1,000 shares of the stock in a transaction on Friday, September 9th. The shares were bought at an average price of $40.31 per share, for a total transaction of $40,310.00. Following the completion of the acquisition, the director now directly owns 6,351 shares in the company, valued at approximately $256,008.81. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.
Innophos Holdings Company Profile
Innophos Holdings, Inc is a producer of nutritional specialty ingredients with applications in food, beverage, dietary supplements, pharmaceutical, oral care and industrial end markets. The Company also provides bioactive mineral and nutritional ingredients. Its segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and GTSP & Other.
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