Millennium Management LLC Boosts Stake in Innophos Holdings, Inc. (IPHS)

Millennium Management LLC grew its stake in shares of Innophos Holdings, Inc. (NASDAQ:IPHS) by 553.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,597 shares of the specialty chemicals company’s stock after buying an additional 58,950 shares during the quarter. Millennium Management LLC’s holdings in Innophos were worth $1,707,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Great West Life Assurance Co. Can raised its position in shares of Innophos by 1.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 26,640 shares of the specialty chemicals company’s stock valued at $603,000 after buying an additional 364 shares in the last quarter. Two Sigma Advisers LP raised its position in Innophos by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 31,538 shares of the specialty chemicals company’s stock worth $774,000 after purchasing an additional 482 shares during the period. Texas Permanent School Fund raised its position in Innophos by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 12,836 shares of the specialty chemicals company’s stock worth $315,000 after purchasing an additional 499 shares during the period. Bank of Montreal Can raised its position in Innophos by 79.8% in the 4th quarter. Bank of Montreal Can now owns 1,300 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 577 shares during the period. Finally, Principal Financial Group Inc. raised its position in Innophos by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 159,254 shares of the specialty chemicals company’s stock worth $3,907,000 after purchasing an additional 931 shares during the period. Hedge funds and other institutional investors own 93.43% of the company’s stock.

A number of equities analysts recently commented on the stock. BidaskClub upgraded shares of Innophos from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Zacks Investment Research cut shares of Innophos from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. TheStreet upgraded shares of Innophos from a “c” rating to a “b-” rating in a research report on Thursday, February 21st. Seaport Global Securities assumed coverage on shares of Innophos in a research report on Thursday, February 21st. They issued a “buy” rating on the stock. Finally, ValuEngine upgraded shares of Innophos from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.00.

Shares of NASDAQ:IPHS opened at $31.64 on Friday. The firm has a market capitalization of $606.15 million, a P/E ratio of 13.88 and a beta of 1.31. Innophos Holdings, Inc. has a 52 week low of $22.57 and a 52 week high of $50.40. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.13 and a current ratio of 2.52.

Innophos (NASDAQ:IPHS) last issued its earnings results on Wednesday, February 20th. The specialty chemicals company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $192.74 million for the quarter, compared to analysts’ expectations of $189.60 million. Innophos had a net margin of 4.50% and a return on equity of 13.39%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. As a group, equities analysts forecast that Innophos Holdings, Inc. will post 2.23 earnings per share for the current fiscal year.

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Innophos Company Profile

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.

See Also: Net Income

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Institutional Ownership by Quarter for Innophos (NASDAQ:IPHS)

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