Mason Street Advisors LLC bought a new stake in Innophos Holdings Inc. (NASDAQ:IPHS) during the second quarter, Holdings Channel reports. The firm bought 3,784 shares of the company’s stock, valued at approximately $160,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its position in shares of Innophos Holdings by 29.8% in the first quarter. TIAA CREF Investment Management LLC now owns 161,622 shares of the company’s stock valued at $4,996,000 after buying an additional 37,127 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Innophos Holdings by 30.8% in the first quarter. Renaissance Technologies LLC now owns 901,200 shares of the company’s stock valued at $27,856,000 after buying an additional 212,200 shares during the last quarter. Smith Asset Management Group LP purchased a new position in shares of Innophos Holdings during the second quarter valued at $2,138,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Innophos Holdings during the first quarter valued at $1,616,000. Finally, BlackRock Group LTD raised its position in shares of Innophos Holdings by 7.1% in the first quarter. BlackRock Group LTD now owns 24,851 shares of the company’s stock valued at $768,000 after buying an additional 1,648 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors.
Shares of Innophos Holdings Inc. (NASDAQ:IPHS) opened at 39.12 on Friday. The stock’s 50 day moving average price is $39.40 and its 200 day moving average price is $39.11. The company has a market cap of $752.71 million, a P/E ratio of 30.00 and a beta of 0.81. Innophos Holdings Inc. has a 1-year low of $22.06 and a 1-year high of $44.42.
Innophos Holdings (NASDAQ:IPHS) last posted its earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The firm had revenue of $181.90 million for the quarter, compared to analyst estimates of $199.70 million. Innophos Holdings had a return on equity of 9.83% and a net margin of 3.47%. The company’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. Equities research analysts forecast that Innophos Holdings Inc. will post $2.44 earnings per share for the current year.
Separately, Zacks Investment Research downgraded Innophos Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday.
In other news, Director Robert J. Zatta purchased 1,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were purchased at an average price of $40.31 per share, with a total value of $40,310.00. Following the purchase, the director now directly owns 6,351 shares of the company’s stock, valued at approximately $256,008.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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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