Smith Asset Management Group LP purchased a new position in shares of Phibro Animal Health Corp (NASDAQ:PAHC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,090 shares of the company’s stock, valued at approximately $690,000.
Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Phibro Animal Health by 2,104.6% during the first quarter. Royal Bank of Canada now owns 3,814 shares of the company’s stock worth $151,000 after purchasing an additional 3,641 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Phibro Animal Health by 149.2% in the second quarter. Meeder Asset Management Inc. now owns 4,470 shares of the company’s stock worth $206,000 after acquiring an additional 2,676 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Phibro Animal Health in the second quarter worth about $213,000. Janus Henderson Group PLC bought a new position in Phibro Animal Health in the second quarter worth about $222,000. Finally, Cubist Systematic Strategies LLC bought a new position in Phibro Animal Health in the second quarter worth about $255,000. 47.95% of the stock is currently owned by institutional investors and hedge funds.
PAHC has been the topic of a number of recent research reports. BidaskClub cut shares of Phibro Animal Health from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Morgan Stanley raised their target price on shares of Phibro Animal Health from $36.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, August 29th. Finally, Zacks Investment Research raised shares of Phibro Animal Health from a “sell” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Thursday, August 30th. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.20.
Phibro Animal Health (NASDAQ:PAHC) last issued its earnings results on Tuesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.03). Phibro Animal Health had a return on equity of 39.59% and a net margin of 7.89%. The business had revenue of $200.20 million during the quarter, compared to the consensus estimate of $203.99 million. During the same period in the prior year, the business earned $0.38 EPS. The business’s revenue was up 3.5% on a year-over-year basis. As a group, analysts anticipate that Phibro Animal Health Corp will post 1.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Wednesday, November 28th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, November 27th. This is a boost from Phibro Animal Health’s previous quarterly dividend of $0.10. Phibro Animal Health’s payout ratio is 22.99%.
In other news, CEO Jack Bendheim sold 10,000 shares of Phibro Animal Health stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $50.03, for a total transaction of $500,300.00. Following the sale, the chief executive officer now owns 60,000 shares of the company’s stock, valued at $3,001,800. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Daniel M. Bendheim sold 2,500 shares of Phibro Animal Health stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $44.30, for a total value of $110,750.00. Following the sale, the vice president now directly owns 2,500 shares in the company, valued at approximately $110,750. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,020 shares of company stock worth $6,967,571. Corporate insiders own 50.29% of the company’s stock.
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About Phibro Animal Health
Phibro Animal Health Corporation operates as a diversified animal health and mineral nutrition company primarily in the United States. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets products for a range of food animals, including poultry, swine, beef and dairy cattle, and aquaculture.
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