Brandywine Global Investment Management LLC boosted its stake in shares of Intrepid Potash, Inc (NYSE:IPI) by 176.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 69,823 shares of the basic materials company’s stock after purchasing an additional 44,543 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.05% of Intrepid Potash worth $158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wells Fargo & Company MN grew its position in Intrepid Potash by 12.3% during the 2nd quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock worth $131,000 after purchasing an additional 6,336 shares during the period. Bank of New York Mellon Corp grew its position in shares of Intrepid Potash by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 568,163 shares of the basic materials company’s stock valued at $977,000 after acquiring an additional 7,793 shares during the period. Radnor Capital Management LLC grew its position in shares of Intrepid Potash by 87.1% during the 2nd quarter. Radnor Capital Management LLC now owns 46,400 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 21,600 shares during the period. Royce & Associates LP grew its position in shares of Intrepid Potash by 7.7% during the 1st quarter. Royce & Associates LP now owns 339,406 shares of the basic materials company’s stock valued at $584,000 after acquiring an additional 24,406 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of Intrepid Potash by 30.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 126,394 shares of the basic materials company’s stock valued at $217,000 after acquiring an additional 29,646 shares during the period. 47.26% of the stock is currently owned by institutional investors.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.03. The company had revenue of $43.90 million for the quarter, compared to the consensus estimate of $37.75 million. Intrepid Potash had a negative net margin of 30.56% and a negative return on equity of 12.37%. Intrepid Potash’s revenue was down 15.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) earnings per share.

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A number of research firms have recently commented on IPI. UBS AG cut Intrepid Potash from a “neutral” rating to a “sell” rating and raised their target price for the company from $2.00 to $2.50 in a research report on Monday, August 7th. BMO Capital Markets raised their price target on shares of Intrepid Potash from $2.00 to $3.00 and gave the company a “market perform” rating in a research note on Thursday, August 3rd. BidaskClub raised shares of Intrepid Potash from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of Intrepid Potash from a “sell” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Wednesday, August 9th.

In other Intrepid Potash news, major shareholder Clearway Capital Management Lt acquired 17,100 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $3.20 per share, with a total value of $54,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert P. Jornayvaz III acquired 20,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was acquired at an average cost of $3.31 per share, with a total value of $66,200.00. Following the transaction, the insider now directly owns 1,206,650 shares of the company’s stock, valued at $3,994,011.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 2,122,031 shares of company stock worth $6,603,387. 27.30% of the stock is currently owned by insiders.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.

Institutional Ownership by Quarter for Intrepid Potash (NYSE:IPI)

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