Prudential Financial Inc. Reduces Position in Innophos Holdings Inc. (IPHS)
Prudential Financial Inc. decreased its position in shares of Innophos Holdings Inc. (NASDAQ:IPHS) by 16.2% during the second quarter, Holdings Channel reports. The fund owned 100,161 shares of the company’s stock after selling 19,300 shares during the period. Prudential Financial Inc. owned about 0.52% of Innophos Holdings worth $4,228,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. TIAA CREF Investment Management LLC raised its stake in shares of Innophos Holdings by 29.8% in the first quarter. TIAA CREF Investment Management LLC now owns 161,622 shares of the company’s stock worth $4,996,000 after buying an additional 37,127 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Innophos Holdings by 7.1% in the first quarter. BlackRock Group LTD now owns 24,851 shares of the company’s stock worth $768,000 after buying an additional 1,648 shares during the period. BlackRock Fund Advisors boosted its position in shares of Innophos Holdings by 1.1% in the first quarter. BlackRock Fund Advisors now owns 1,215,310 shares of the company’s stock worth $37,565,000 after buying an additional 13,104 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Innophos Holdings by 208.9% in the first quarter. JPMorgan Chase & Co. now owns 488,666 shares of the company’s stock worth $15,105,000 after buying an additional 330,475 shares during the period. Finally, BB&T Securities LLC boosted its position in shares of Innophos Holdings by 0.3% in the first quarter. BB&T Securities LLC now owns 22,759 shares of the company’s stock worth $703,000 after buying an additional 78 shares during the period. 93.29% of the stock is currently owned by hedge funds and other institutional investors.
Innophos Holdings Inc. (NASDAQ:IPHS) opened at 39.12 on Monday. Innophos Holdings Inc. has a 12 month low of $22.06 and a 12 month high of $44.42. The company’s 50-day moving average is $39.40 and its 200-day moving average is $39.11. The stock has a market capitalization of $752.71 million, a PE ratio of 30.00 and a beta of 0.81.
Innophos Holdings (NASDAQ:IPHS) last announced its earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $181.90 million for the quarter, compared to the consensus estimate of $199.70 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was down 16.3% on a year-over-year basis. Equities research analysts forecast that Innophos Holdings Inc. will post $2.44 EPS for the current year.
Separately, Zacks Investment Research cut shares of Innophos Holdings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th.
In other news, Director Robert J. Zatta bought 1,000 shares of Innophos Holdings stock in a transaction dated Friday, September 9th. The shares were acquired at an average price of $40.31 per share, with a total value of $40,310.00. Following the completion of the purchase, the director now owns 6,351 shares in the company, valued at approximately $256,008.81. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.
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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