Highbridge Capital Management LLC purchased a new stake in Innophos Holdings, Inc. (NASDAQ:IPHS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,386 shares of the specialty chemicals company’s stock, valued at approximately $265,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of IPHS. American Century Companies Inc. raised its holdings in Innophos by 68.8% in the second quarter. American Century Companies Inc. now owns 612,435 shares of the specialty chemicals company’s stock valued at $26,849,000 after acquiring an additional 249,585 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in Innophos in the third quarter valued at $10,358,000. Daruma Capital Management LLC raised its holdings in Innophos by 15.5% in the second quarter. Daruma Capital Management LLC now owns 1,182,095 shares of the specialty chemicals company’s stock valued at $51,823,000 after acquiring an additional 158,861 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Innophos by 58.1% in the second quarter. Goldman Sachs Group Inc. now owns 321,140 shares of the specialty chemicals company’s stock valued at $14,079,000 after acquiring an additional 118,043 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Innophos by 3.8% in the second quarter. BlackRock Inc. now owns 2,432,009 shares of the specialty chemicals company’s stock valued at $106,620,000 after acquiring an additional 89,360 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on IPHS shares. KeyCorp reiterated a “hold” rating on shares of Innophos in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Innophos from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, December 15th. Finally, BidaskClub upgraded shares of Innophos from a “sell” rating to a “hold” rating in a research note on Thursday, December 14th.
Innophos (NASDAQ:IPHS) last released its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. Innophos had a net margin of 6.19% and a return on equity of 13.90%. The firm had revenue of $184.00 million during the quarter, compared to analyst estimates of $179.33 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. equities research analysts forecast that Innophos Holdings, Inc. will post 2.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Friday, November 17th were paid a dividend of $0.48 per share. The ex-dividend date was Thursday, November 16th. This represents a $1.92 annualized dividend and a yield of 4.20%. Innophos’s payout ratio is 88.48%.
Innophos 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. The Company’s segments include Specialty Phosphates US & Canada, Specialty Phosphates Mexico, and Granular Triple Super Phosphate (GTSP) & Other.
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