Koch Industries Inc Lowers stake in Intrepid Potash (IPI)

Intrepid Potash (IPI) : Koch Industries Inc reduced its stake in Intrepid Potash by 8.07% during the most recent quarter end. The investment management company now holds a total of 1,310,000 shares of Intrepid Potash which is valued at $1,703,000 after selling 115,000 shares in Intrepid Potash , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Intrepid Potash makes up approximately 60.43% of Koch Industries Inc’s portfolio.

Other Hedge Funds, Including , Norges Bank added IPI to its portfolio by purchasing 712,509 company shares during the most recent quarter which is valued at $926,262. Alliancebernstein sold out all of its stake in IPI during the most recent quarter. The investment firm sold 64,600 shares of IPI which is valued $83,980. First Trust Advisors Lp sold out all of its stake in IPI during the most recent quarter. The investment firm sold 549,572 shares of IPI which is valued $719,939. Smithfield Trust Co sold out all of its stake in IPI during the most recent quarter. The investment firm sold 1,150 shares of IPI which is valued $1,484.

Intrepid Potash closed down -0.01 points or -0.76% at $1.31 with 4,71,606 shares getting traded on Monday. Post opening the session at $1.32, the shares hit an intraday low of $1.3 and an intraday high of $1.33 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Intrepid Potash reported $-0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.15. The company had revenue of $51.80 million for the quarter, compared to analysts expectations of $49.52 million. The company’s revenue was down -29.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.08 EPS.

Intrepid Potash Inc. is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States. The Company sells potash and Trio into the agricultural market as a fertilizer. The Company also sells produce salt magnesium chloride and metal recovery salts from its potash mining processes. The Company owns three solution mining facilities and two conventional underground facilities that are utilized for producing potash. Its solution mining production comes from the HB solar solution mine near Carlsbad New Mexico a solar solution mine near Moab Utah and a solar evaporation shallow brine mine in Wendover Utah. The Company’s conventional production comes from its underground West and East mines near Carlsbad New Mexico which services the West and HB mines.

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