First Mercantile Trust Co. purchased a new stake in Innophos Holdings Inc. (NASDAQ:IPHS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,591 shares of the company’s stock, valued at approximately $109,000.
Several other large investors have also modified their holdings of the company. PineBridge Investments L.P. raised its position in Innophos Holdings by 8.5% in the second quarter. PineBridge Investments L.P. now owns 2,455 shares of the company’s stock valued at $104,000 after buying an additional 193 shares during the last quarter. Vanguard Group Inc. raised its position in Innophos Holdings by 9.0% in the second quarter. Vanguard Group Inc. now owns 1,560,041 shares of the company’s stock valued at $65,849,000 after buying an additional 128,555 shares during the last quarter. Principal Financial Group Inc. raised its position in Innophos Holdings by 3.1% in the second quarter. Principal Financial Group Inc. now owns 136,700 shares of the company’s stock valued at $5,770,000 after buying an additional 4,083 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Innophos Holdings by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 950,278 shares of the company’s stock valued at $40,111,000 after buying an additional 38,749 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in Innophos Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,684 shares of the company’s stock valued at $113,000 after buying an additional 325 shares during the last quarter. Institutional investors own 93.31% of the company’s stock.
Innophos Holdings Inc. (NASDAQ:IPHS) opened at 38.70 on Friday. Innophos Holdings Inc. has a 52 week low of $22.06 and a 52 week high of $44.42. The firm has a 50-day moving average of $39.75 and a 200-day moving average of $38.82. The company has a market cap of $744.63 million, a price-to-earnings ratio of 29.68 and a beta of 0.81.
Innophos Holdings (NASDAQ:IPHS) last posted its earnings results on Tuesday, August 2nd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm earned $181.90 million during the quarter, compared to analysts’ expectations of $199.70 million. Innophos Holdings had a net margin of 3.47% and a return on equity of 9.83%. The business’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. Equities 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 objective on the stock in a research note on Thursday, August 11th.
In other Innophos Holdings news, Director Robert J. Zatta acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average price of $40.31 per share, for a total transaction of $40,310.00. Following the acquisition, the director now directly owns 6,351 shares in the company, valued at $256,008.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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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