Bank of America Corp DE lowered its position in Innophos Holdings, Inc. (NASDAQ:IPHS) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 278,485 shares of the specialty chemicals company’s stock after selling 21,995 shares during the period. Bank of America Corp DE owned 1.42% of Innophos worth $6,831,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Deprince Race & Zollo Inc. lifted its holdings in shares of Innophos by 40.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 612,289 shares of the specialty chemicals company’s stock valued at $15,019,000 after purchasing an additional 177,149 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Innophos in the fourth quarter worth $3,847,000. BlackRock Inc. boosted its holdings in shares of Innophos by 5.1% in the third quarter. BlackRock Inc. now owns 2,800,584 shares of the specialty chemicals company’s stock worth $124,346,000 after acquiring an additional 134,916 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Innophos by 22.1% in the fourth quarter. Bank of New York Mellon Corp now owns 490,799 shares of the specialty chemicals company’s stock worth $12,038,000 after acquiring an additional 88,796 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in shares of Innophos by 238.7% in the fourth quarter. Two Sigma Investments LP now owns 99,977 shares of the specialty chemicals company’s stock worth $2,452,000 after acquiring an additional 70,461 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.
IPHS has been the subject of a number of analyst reports. TheStreet raised Innophos from a “c” rating to a “b-” rating in a report on Thursday, February 21st. BidaskClub raised Innophos from a “hold” rating to a “buy” rating in a research note on Thursday, February 7th. Seaport Global Securities started coverage on Innophos in a research note on Thursday, February 21st. They set a “buy” rating for the company. Zacks Investment Research raised Innophos from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. 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 given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold”.
Innophos (NASDAQ:IPHS) last issued its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.14. The firm had revenue of $191.41 million during the quarter, compared to analyst estimates of $199.90 million. Innophos had a return on equity of 13.09% and a net margin of 4.30%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. As a group, research analysts expect that Innophos Holdings, Inc. will post 2.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $0.48 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.92 annualized dividend and a dividend yield of 6.05%. Innophos’s dividend payout ratio is currently 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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