Ranger Investment Management L.P. purchased a new position in shares of Phibro Animal Health Corporation (NASDAQ:PAHC – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 292,410 shares of the company’s stock, valued at approximately $9,182,000. Ranger Investment Management L.P. owned about 0.72% of Phibro Animal Health as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in shares of Phibro Animal Health by 4,227.1% during the fourth quarter. Millennium Management LLC now owns 641,313 shares of the company’s stock worth $23,959,000 after acquiring an additional 626,492 shares during the period. Globeflex Capital L P purchased a new position in Phibro Animal Health during the second quarter worth about $5,942,000. Allspring Global Investments Holdings LLC lifted its position in Phibro Animal Health by 145.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 286,172 shares of the company’s stock valued at $15,671,000 after purchasing an additional 169,628 shares during the period. Castleark Management LLC acquired a new stake in Phibro Animal Health in the first quarter valued at about $7,904,000. Finally, Lazard Asset Management LLC boosted its holdings in Phibro Animal Health by 3,392.3% in the 2nd quarter. Lazard Asset Management LLC now owns 92,441 shares of the company’s stock valued at $2,360,000 after purchasing an additional 89,794 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.
Wall Street Analysts Forecast Growth
PAHC has been the subject of a number of research analyst reports. 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 report on Thursday, May 14th. Zacks Research downgraded shares of Phibro Animal Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Weiss Ratings lowered shares of Phibro Animal Health from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Finally, Wall Street Zen cut shares of Phibro Animal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Phibro Animal Health presently has an average rating of “Hold” and an average target price of $42.50.
Phibro Animal Health Price Performance
Shares of NASDAQ PAHC opened at $36.32 on Monday. The stock has a market capitalization of $1.47 billion, a PE ratio of 15.59, a P/E/G ratio of 0.51 and a beta of 0.46. The company has a quick ratio of 1.26, a current ratio of 3.17 and a debt-to-equity ratio of 1.97. The firm has a fifty day moving average of $33.70 and a 200-day moving average of $42.61. Phibro Animal Health Corporation has a 52-week low of $28.25 and a 52-week high of $60.08.
Phibro Animal Health Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a $0.12 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 1.3%. Phibro Animal Health’s dividend payout ratio (DPR) is presently 20.60%.
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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