Innophos Holdings, Inc. (NASDAQ:IPHS) Position Boosted by Investment Counselors of Maryland LLC
Investment Counselors of Maryland LLC lifted its stake in shares of Innophos Holdings, Inc. (NASDAQ:IPHS) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 605,945 shares of the specialty chemicals company’s stock after purchasing an additional 6,814 shares during the period. Investment Counselors of Maryland LLC owned about 3.08% of Innophos worth $17,639,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of IPHS. Millennium Management LLC increased its holdings in shares of Innophos by 553.7% in the fourth quarter. Millennium Management LLC now owns 69,597 shares of the specialty chemicals company’s stock valued at $1,707,000 after purchasing an additional 58,950 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Innophos by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,084,227 shares of the specialty chemicals company’s stock valued at $26,596,000 after purchasing an additional 38,309 shares during the period. Deutsche Bank AG increased its holdings in shares of Innophos by 177.9% in the fourth quarter. Deutsche Bank AG now owns 170,375 shares of the specialty chemicals company’s stock valued at $4,178,000 after purchasing an additional 109,057 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Innophos in the first quarter valued at about $220,000. Finally, Versant Capital Management Inc increased its holdings in shares of Innophos by 75.0% in the first quarter. Versant Capital Management Inc now owns 1,612 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 691 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. TheStreet downgraded Innophos from a “b-” rating to a “c+” rating in a research note on Thursday, May 23rd. BidaskClub upgraded Innophos from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 15th. Finally, Zacks Investment Research downgraded Innophos from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. Innophos currently has a consensus rating of “Hold” and a consensus target price of $31.00.
Innophos (NASDAQ:IPHS) last issued its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $185.04 million for the quarter, compared to the consensus estimate of $196.55 million. Innophos had a return on equity of 12.35% and a net margin of 3.79%. Innophos’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, sell-side analysts expect that Innophos Holdings, Inc. will post 2.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.92 dividend on an annualized basis and a yield of 6.92%. Innophos’s dividend payout ratio is currently 84.21%.
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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