Confluence Investment Management LLC grew its position in shares of Innophos Holdings, Inc. (NASDAQ:IPHS) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,424 shares of the specialty chemicals company’s stock after purchasing an additional 6,967 shares during the quarter. Confluence Investment Management LLC owned approximately 0.57% of Innophos worth $4,992,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in IPHS. Itau Unibanco Holding S.A. bought a new position in shares of Innophos during the 2nd quarter valued at about $144,000. Raymond James & Associates bought a new position in shares of Innophos during the 2nd quarter valued at about $209,000. Ifrah Financial Services Inc. bought a new position in shares of Innophos during the 2nd quarter valued at about $210,000. Alps Advisors Inc. bought a new position in shares of Innophos during the 2nd quarter valued at about $213,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Innophos during the 2nd quarter valued at about $217,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.
IPHS opened at $30.68 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.34 and a current ratio of 2.75. Innophos Holdings, Inc. has a 1 year low of $29.18 and a 1 year high of $50.40. The company has a market cap of $619.24 million, a P/E ratio of 12.84 and a beta of 0.70.
Several equities analysts have recently commented on the company. BidaskClub lowered Innophos from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Zacks Investment Research lowered Innophos from a “buy” rating to a “hold” rating in a research report on Thursday, July 5th. TheStreet lowered Innophos from a “b-” rating to a “c+” rating in a research report on Thursday, August 23rd. Finally, ValuEngine lowered Innophos from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and an average price target of $51.00.
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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