Zacks Investment Research downgraded shares of Innophos Holdings Inc. (NASDAQ:IPHS) from a strong-buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “Innophos, Inc., is one of the leading North American manufacturers of specialty phosphates, serving a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. Innophos’ market-leading positions derive from its experience and dedication to customer service and innovation. “

Shares of Innophos Holdings (NASDAQ:IPHS) opened at 39.71 on Wednesday. The company has a market capitalization of $764.06 million, a P/E ratio of 30.45 and a beta of 0.81. Innophos Holdings has a 52-week low of $22.06 and a 52-week high of $44.42. The firm’s 50 day moving average is $39.58 and its 200-day moving average is $39.04.

Innophos Holdings (NASDAQ:IPHS) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. Innophos Holdings had a net margin of 3.47% and a return on equity of 9.83%. The company had revenue of $181.90 million for the quarter, compared to the consensus estimate of $199.70 million. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was down 16.3% compared to the same quarter last year. Equities research analysts anticipate that Innophos Holdings will post $2.44 earnings per share for the current fiscal year.

In other Innophos Holdings news, Director Robert J. Zatta acquired 1,000 shares of the stock in a transaction dated Friday, September 9th. The shares were bought at an average cost of $40.31 per share, for a total transaction of $40,310.00. Following the completion of the acquisition, the director now directly owns 6,351 shares of the company’s stock, valued at $256,008.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of IPHS. Nisa Investment Advisors LLC increased its stake in Innophos Holdings by 14.3% in the third quarter. Nisa Investment Advisors LLC now owns 4,000 shares of the company’s stock worth $156,000 after buying an additional 500 shares during the period. Mason Street Advisors LLC acquired a new stake in Innophos Holdings during the second quarter worth about $160,000. Public Employees Retirement System of Ohio increased its stake in Innophos Holdings by 13.2% in the second quarter. Public Employees Retirement System of Ohio now owns 3,132 shares of the company’s stock worth $132,000 after buying an additional 366 shares during the period. Personal Capital Advisors Corp increased its stake in Innophos Holdings by 27.0% in the second quarter. Personal Capital Advisors Corp now owns 80,913 shares of the company’s stock worth $3,415,000 after buying an additional 17,199 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Innophos Holdings by 7.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 131,427 shares of the company’s stock valued at $5,548,000 after buying an additional 8,772 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

About Innophos Holdings

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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