California Public Employees Retirement System raised its stake in shares of Innophos Holdings Inc. (NASDAQ:IPHS) by 9.6% during the second quarter, Holdings Channel reports. The firm owned 47,000 shares of the company’s stock after buying an additional 4,100 shares during the period. California Public Employees Retirement System owned 0.24% of Innophos Holdings worth $1,984,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Rutabaga Capital Management LLC MA acquired a new position in Innophos Holdings during the second quarter valued at approximately $2,753,000. Emerald Acquisition Ltd. acquired a new position in Innophos Holdings during the second quarter valued at approximately $1,385,000. Frontier Capital Management Co. LLC raised its position in Innophos Holdings by 2,105.2% in the second quarter. Frontier Capital Management Co. LLC now owns 606,443 shares of the company’s stock valued at $25,598,000 after buying an additional 578,943 shares during the period. Nordea Investment Management AB raised its position in Innophos Holdings by 192.8% in the second quarter. Nordea Investment Management AB now owns 15,822 shares of the company’s stock valued at $668,000 after buying an additional 10,418 shares during the period. Finally, Strs Ohio raised its position 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 period. 93.31% of the stock is owned by institutional investors and hedge funds.
Innophos Holdings Inc. (NASDAQ:IPHS) traded up 1.14% on Thursday, hitting $39.02. 70,863 shares of the stock traded hands. The firm has a market cap of $750.78 million, a price-to-earnings ratio of 29.92 and a beta of 0.81. Innophos Holdings Inc. has a 12-month low of $22.06 and a 12-month high of $44.42. The stock has a 50-day moving average of $39.83 and a 200-day moving average of $38.75.
Innophos Holdings (NASDAQ:IPHS) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. Innophos Holdings had a net margin of 3.47% and a return on equity of 9.83%. The business earned $181.90 million during the quarter, compared to analysts’ expectations of $199.70 million. During the same period in the previous year, the company earned $0.65 earnings per share. Innophos Holdings’s revenue for the quarter was down 16.3% on a year-over-year basis. Analysts forecast that Innophos Holdings Inc. will post $2.44 earnings per share for the current year.
Separately, Zacks Investment Research raised shares of Innophos Holdings from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a report on Thursday, August 11th.
In other news, Director Robert J. Zatta acquired 1,000 shares of Innophos Holdings stock in a transaction dated Friday, September 9th. The stock was acquired at an average cost of $40.31 per share, for a total transaction of $40,310.00. Following the completion of the purchase, the director now owns 6,351 shares of the company’s stock, valued at $256,008.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by insiders.
About Innophos Holdings
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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