Azarias Capital Management L.P. Boosts Position in Intrepid Potash, Inc. (NYSE:IPI)

Azarias Capital Management L.P. boosted its position in Intrepid Potash, Inc. (NYSE:IPI) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 677,704 shares of the basic materials company’s stock after acquiring an additional 73,662 shares during the period. Intrepid Potash accounts for 5.9% of Azarias Capital Management L.P.’s portfolio, making the stock its 5th largest position. Azarias Capital Management L.P. owned 0.05% of Intrepid Potash worth $14,137,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IPI. Tower Research Capital LLC TRC boosted its holdings in Intrepid Potash by 77.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 1,432 shares during the last quarter. Aristides Capital LLC acquired a new position in Intrepid Potash in the fourth quarter valued at about $245,000. Principal Financial Group Inc. lifted its stake in Intrepid Potash by 28.3% in the fourth quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company’s stock valued at $310,000 after buying an additional 2,864 shares during the period. Glenorchy Capital Ltd acquired a new position in Intrepid Potash in the fourth quarter valued at about $381,000. Finally, WealthTrust Axiom LLC lifted its stake in Intrepid Potash by 52.4% in the fourth quarter. WealthTrust Axiom LLC now owns 16,000 shares of the basic materials company’s stock valued at $382,000 after buying an additional 5,500 shares during the period. Institutional investors own 56.13% of the company’s stock.

Wall Street Analysts Forecast Growth

IPI has been the topic of several analyst reports. StockNews.com raised Intrepid Potash to a “sell” rating in a research note on Friday, May 10th. BMO Capital Markets increased their target price on Intrepid Potash from $21.00 to $23.00 and gave the company a “market perform” rating in a research note on Friday, May 10th.

Intrepid Potash Stock Performance

NYSE:IPI traded up $0.59 during mid-day trading on Thursday, hitting $23.32. The company had a trading volume of 39,606 shares, compared to its average volume of 67,386. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $28.30. The business’s fifty day moving average is $24.16 and its two-hundred day moving average is $21.81. The firm has a market cap of $309.46 million, a P/E ratio of -6.90 and a beta of 2.22.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.18). The business had revenue of $66.46 million for the quarter, compared to analyst estimates of $62.87 million. Intrepid Potash had a negative return on equity of 1.37% and a negative net margin of 15.95%. Equities analysts forecast that Intrepid Potash, Inc. will post 0.15 earnings per share for the current year.

Intrepid Potash Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.