Smith Asset Management Group LP acquired a new stake in Innophos Holdings Inc. (NASDAQ:IPHS) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 50,660 shares of the company’s stock, valued at approximately $2,138,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 period. Renaissance Technologies LLC raised its stake in shares of Innophos Holdings by 30.8% in the first quarter. Renaissance Technologies LLC now owns 901,200 shares of the company’s stock worth $27,856,000 after buying an additional 212,200 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Innophos Holdings during the first quarter worth $1,616,000. BlackRock Group LTD raised its stake 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. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of Innophos Holdings by 21.6% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 14,327 shares of the company’s stock worth $604,000 after buying an additional 2,543 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.
Shares of Innophos Holdings Inc. (NASDAQ:IPHS) traded up 0.72% during mid-day trading on Friday, hitting $37.87. The stock had a trading volume of 101,713 shares. Innophos Holdings Inc. has a 1-year low of $22.06 and a 1-year high of $44.42. The stock’s 50-day moving average price is $40.49 and its 200 day moving average price is $38.14. The company has a market capitalization of $728.66 million, a P/E ratio of 29.04 and a beta of 0.77.
Innophos Holdings (NASDAQ:IPHS) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business earned $181.90 million during the quarter, compared to the consensus estimate of $199.70 million. Innophos Holdings had a return on equity of 9.83% and a net margin of 3.47%. The firm’s quarterly revenue was down 16.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. On average, analysts predict that Innophos Holdings Inc. will post $2.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were paid a $0.48 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $1.92 annualized dividend and a yield of 5.07%. Innophos Holdings’s dividend payout ratio (DPR) is presently 146.57%.
Separately, Zacks Investment Research lowered Innophos Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 6th.
In other news, Director Robert J. Zatta purchased 1,000 shares of Innophos Holdings stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average cost of $40.31 per share, for a total transaction of $40,310.00. Following the purchase, the director now directly owns 6,351 shares of the company’s stock, valued at approximately $256,008.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.
Innophos Holdings Company Profile
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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