Lazard Asset Management LLC Acquires Shares of 37,105 Intrepid Potash, Inc $IPI

Lazard Asset Management LLC bought a new position in shares of Intrepid Potash, Inc (NYSE:IPI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 37,105 shares of the basic materials company’s stock, valued at approximately $1,587,000. Lazard Asset Management LLC owned approximately 0.28% of Intrepid Potash at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IPI. Azarias Capital Management L.P. lifted its holdings in Intrepid Potash by 13.5% in the 4th quarter. Azarias Capital Management L.P. now owns 294,870 shares of the basic materials company’s stock worth $8,177,000 after buying an additional 35,082 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Intrepid Potash during the first quarter worth about $2,484,000. SG Americas Securities LLC increased its position in shares of Intrepid Potash by 1,773.2% during the first quarter. SG Americas Securities LLC now owns 98,754 shares of the basic materials company’s stock worth $4,224,000 after acquiring an additional 93,482 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Intrepid Potash in the first quarter worth about $751,000. Finally, Goehring & Rozencwajg Associates LLC boosted its holdings in Intrepid Potash by 21.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 267,097 shares of the basic materials company’s stock valued at $11,424,000 after purchasing an additional 47,781 shares during the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IPI has been the topic of several analyst reports. Freedom Capital upgraded Intrepid Potash to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings raised shares of Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. UBS Group lifted their price target on shares of Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a research note on Thursday, May 14th. Finally, Zacks Research cut shares of Intrepid Potash from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.00.

Intrepid Potash Stock Performance

NYSE IPI opened at $33.18 on Tuesday. Intrepid Potash, Inc has a one year low of $22.55 and a one year high of $50.34. The company has a 50-day simple moving average of $35.06 and a 200-day simple moving average of $36.96. The firm has a market capitalization of $445.58 million, a PE ratio of 31.30 and a beta of 1.24.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $98.69 million for the quarter, compared to analysts’ expectations of $88.30 million. Intrepid Potash had a net margin of 4.68% and a return on equity of 4.53%. Equities analysts forecast that Intrepid Potash, Inc will post 1.62 earnings per share for the current year.

Insider Transactions at Intrepid Potash

In related news, Director Lori A. Lancaster sold 4,800 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $45.24, for a total transaction of $217,152.00. Following the completion of the transaction, the director directly owned 10,540 shares in the company, valued at $476,829.60. This represents a 31.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.