Penn Capital Management Co. Inc. boosted its stake in shares of Innophos Holdings, Inc. (NASDAQ:IPHS) by 16.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 136,180 shares of the specialty chemicals company’s stock after purchasing an additional 19,653 shares during the period. Penn Capital Management Co. Inc.’s holdings in Innophos were worth $4,104,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IndexIQ Advisors LLC bought a new stake in Innophos during the first quarter worth approximately $920,000. Victory Capital Management Inc. bought a new stake in Innophos during the first quarter worth approximately $881,000. Boston Partners increased its stake in Innophos by 3.5% during the first quarter. Boston Partners now owns 141,599 shares of the specialty chemicals company’s stock worth $4,268,000 after acquiring an additional 4,820 shares during the last quarter. Teton Advisors Inc. bought a new stake in Innophos during the first quarter worth approximately $211,000. Finally, Wedge Capital Management L L P NC bought a new stake in Innophos during the first quarter worth approximately $206,000. Institutional investors own 91.18% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Innophos from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. BidaskClub raised Innophos from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. TheStreet raised Innophos from a “c” rating to a “b-” rating in a research note on Thursday, February 21st. Seaport Global Securities assumed coverage on Innophos in a research note on Thursday, February 21st. They set a “buy” rating on the stock. Finally, ValuEngine raised Innophos from a “strong sell” rating to a “sell” rating in a research note on Monday, February 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold”.
IPHS opened at $30.23 on Thursday. The company has a market cap of $596.20 million, a PE ratio of 13.26 and a beta of 1.33. Innophos Holdings, Inc. has a one year low of $22.57 and a one year high of $50.40. The company has a current ratio of 3.14, a quick ratio of 1.49 and a debt-to-equity ratio of 0.95.
Innophos (NASDAQ:IPHS) last released its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. The firm had revenue of $191.41 million for the quarter, compared to analysts’ expectations of $199.90 million. Innophos had a return on equity of 13.09% and a net margin of 4.30%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. As a group, equities research analysts predict that Innophos Holdings, Inc. will post 2.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.35%. Innophos’s dividend payout ratio is 84.21%.
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Innophos Holdings, Inc, together with its subsidiaries, produces specialty ingredients with applications in food, health, nutrition, and industrial markets. It operates through three segments: Food, Health and Nutrition; Industrial Specialties; and Other. The company's specialty ingredients include specialty phosphate salts and specialty phosphoric acids, as well as other mineral, enzyme, and botanical based specialty ingredients that are used as flavor enhancers in beverages; electrolytes in sports drinks; texture modifiers in cheeses; leavening agents in baked goods; calcium and phosphorus fortification in food and beverages; moisture and color retention in seafood, poultry, and meat; excipients in vitamins, minerals, nutritional supplements, and pharmaceuticals; and abrasives in toothpaste.
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