JPMorgan Chase & Co. Has $4.82 Million Stock Position in Intrepid Potash, Inc $IPI

JPMorgan Chase & Co. reduced its position in shares of Intrepid Potash, Inc (NYSE:IPI) by 25.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 157,542 shares of the basic materials company’s stock after selling 54,766 shares during the period. JPMorgan Chase & Co.’s holdings in Intrepid Potash were worth $4,818,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Intrepid Potash by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock worth $193,000 after buying an additional 312 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Intrepid Potash by 7.3% in the 1st quarter. Empowered Funds LLC now owns 60,623 shares of the basic materials company’s stock worth $1,782,000 after acquiring an additional 4,137 shares in the last quarter. Geode Capital Management LLC grew its position in Intrepid Potash by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 241,039 shares of the basic materials company’s stock worth $8,614,000 after acquiring an additional 1,520 shares during the last quarter. Legal & General Group Plc grew its position in Intrepid Potash by 123.0% during the 2nd quarter. Legal & General Group Plc now owns 2,112 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 1,165 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Intrepid Potash by 140.5% during the 2nd quarter. Franklin Resources Inc. now owns 17,151 shares of the basic materials company’s stock valued at $613,000 after purchasing an additional 10,019 shares in the last quarter. 56.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. UBS Group lifted their price objective on Intrepid Potash from $24.00 to $25.00 and gave the company a “sell” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Intrepid Potash in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Intrepid Potash currently has a consensus rating of “Sell” and a consensus price target of $25.00.

Intrepid Potash Price Performance

IPI opened at $43.65 on Friday. The stock has a market capitalization of $585.39 million, a P/E ratio of 51.36 and a beta of 1.39. The company’s 50 day simple moving average is $37.52 and its 200-day simple moving average is $31.25. Intrepid Potash, Inc has a one year low of $22.55 and a one year high of $50.34.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Wednesday, March 4th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.23. The firm had revenue of $75.88 million for the quarter, compared to the consensus estimate of $65.25 million. Intrepid Potash had a return on equity of 3.93% and a net margin of 3.75%. As a group, analysts anticipate that Intrepid Potash, Inc will post -0.17 EPS for the current year.

About Intrepid Potash

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.