SummitTX Capital L.P. lifted its position in Phibro Animal Health Corporation (NASDAQ:PAHC – Free Report) by 113.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,466 shares of the company’s stock after purchasing an additional 40,102 shares during the quarter. SummitTX Capital L.P. owned 0.19% of Phibro Animal Health worth $4,174,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of PAHC. JPMorgan Chase & Co. raised its stake in shares of Phibro Animal Health by 1,730.9% during the third quarter. JPMorgan Chase & Co. now owns 238,115 shares of the company’s stock worth $9,634,000 after acquiring an additional 225,110 shares in the last quarter. Advisors Preferred LLC bought a new position in shares of Phibro Animal Health during the 1st quarter valued at $2,931,000. Cvfg LLC purchased a new position in Phibro Animal Health in the 1st quarter worth $2,962,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Phibro Animal Health in the 1st quarter worth $1,759,000. Finally, Precision Wealth Strategies LLC bought a new stake in Phibro Animal Health in the fourth quarter worth $1,568,000. 99.34% of the stock is owned by hedge funds and other institutional investors.
Phibro Animal Health Stock Performance
NASDAQ:PAHC opened at $35.24 on Tuesday. The stock has a market cap of $1.43 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 0.48 and a beta of 0.46. The firm’s fifty day simple moving average is $32.47 and its 200 day simple moving average is $43.26. Phibro Animal Health Corporation has a twelve month low of $25.58 and a twelve month high of $60.08. The company has a quick ratio of 1.26, a current ratio of 3.17 and a debt-to-equity ratio of 1.97.
Phibro Animal Health Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. Phibro Animal Health’s payout ratio is currently 20.60%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on PAHC shares. Citigroup cut their price target on shares of Phibro Animal Health from $62.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Zacks Research downgraded Phibro Animal Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Weiss Ratings cut Phibro Animal Health from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Finally, Wall Street Zen lowered Phibro Animal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Phibro Animal Health presently has an average rating of “Hold” and a consensus target price of $42.50.
Read Our Latest Analysis on Phibro Animal Health
Insider Activity
In related news, CEO Jack Bendheim sold 7,040 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.80, for a total value of $392,832.00. Following the completion of the transaction, the chief executive officer directly owned 67,720 shares of the company’s stock, valued at $3,778,776. This represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,608 shares of company stock worth $983,825 in the last 90 days. 50.13% of the stock is owned by insiders.
About Phibro Animal Health
Phibro Animal Health Corporation (NASDAQ: PAHC) is a diversified global animal health and mineral nutrition company headquartered in Teaneck, New Jersey. The company develops, manufactures and markets a broad range of pharmaceutical, mineral nutrition and performance products designed to support the health and productivity of livestock, companion animals and aquaculture species. Phibro’s portfolio includes vaccines, anti-infective therapies, coccidiostats, disinfectants, premix minerals and specialty feed additives aimed at enhancing growth, immunity and overall animal well-being.
The company operates through three principal business segments: Animal Health, Mineral Nutrition and Performance Products.
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