Innophos Holdings Inc. (IPHS) Shares Up 2.2%
Innophos Holdings Inc. (NASDAQ:IPHS) shot up 2.2% during mid-day trading on Thursday . The stock traded as high as $42.88 and last traded at $42.76, with a volume of 57,022 shares traded. The stock had previously closed at $41.84.
Separately, Zacks Investment Research raised Innophos Holdings from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a report on Thursday, August 11th.
The stock has a 50 day moving average of $42.05 and a 200 day moving average of $36.39. The stock has a market cap of $826.79 million and a PE ratio of 32.95.
Innophos Holdings (NASDAQ:IPHS) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $181.90 million for the quarter, compared to analyst estimates of $199.70 million. Innophos Holdings’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. Equities analysts anticipate that Innophos Holdings Inc. will post $2.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 19th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Wednesday, August 17th.
In other news, VP Joseph Golowski sold 5,000 shares of the stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $40.46, for a total transaction of $202,300.00. Following the sale, the vice president now directly owns 28,069 shares of the company’s stock, valued at approximately $1,135,671.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
A hedge fund recently raised its stake in Innophos Holdings stock. Rhumbline Advisers boosted its stake in Innophos Holdings Inc. (NASDAQ:IPHS) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,905 shares of the company’s stock after buying an additional 1,245 shares during the period. Rhumbline Advisers owned approximately 0.23% of Innophos Holdings worth $1,301,000 as of its most recent filing with the SEC.
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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