Vanguard Group Inc. boosted its position in shares of Phibro Animal Health Corp (NASDAQ:PAHC) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,256,012 shares of the company’s stock after acquiring an additional 63,315 shares during the period. Vanguard Group Inc. owned about 5.58% of Phibro Animal Health worth $71,673,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAHC. Fiduciary Management Inc. WI grew its holdings in Phibro Animal Health by 332.3% during the 2nd quarter. Fiduciary Management Inc. WI now owns 1,073,390 shares of the company’s stock worth $34,102,000 after acquiring an additional 825,090 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Phibro Animal Health by 315.4% during the 2nd quarter. Janus Henderson Group PLC now owns 956,784 shares of the company’s stock worth $30,397,000 after acquiring an additional 726,444 shares in the last quarter. FMR LLC grew its holdings in Phibro Animal Health by 82.7% during the 1st quarter. FMR LLC now owns 337,652 shares of the company’s stock worth $11,143,000 after acquiring an additional 152,853 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in Phibro Animal Health during the 2nd quarter worth approximately $1,957,000. Finally, Dupont Capital Management Corp grew its holdings in Phibro Animal Health by 172.7% during the 2nd quarter. Dupont Capital Management Corp now owns 44,122 shares of the company’s stock worth $1,402,000 after acquiring an additional 27,940 shares in the last quarter. Institutional investors own 51.70% of the company’s stock.
Several research analysts have commented on PAHC shares. Credit Suisse Group reiterated a “neutral” rating and set a $25.00 price target (down previously from $31.00) on shares of Phibro Animal Health in a report on Wednesday, August 28th. Barclays lowered their price target on shares of Phibro Animal Health from $25.00 to $18.00 and set an “underweight” rating for the company in a report on Thursday, August 29th. Bank of America lowered their price target on shares of Phibro Animal Health from $29.00 to $18.00 and set an “underperform” rating for the company in a report on Thursday, August 29th. Morgan Stanley upgraded shares of Phibro Animal Health from an “underweight” rating to an “equal” rating and boosted their price target for the stock from $21.00 to $30.00 in a report on Thursday, September 5th. They noted that the move was a valuation call. Finally, TheStreet cut shares of Phibro Animal Health from a “b-” rating to a “c+” rating in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $26.60.
Phibro Animal Health (NASDAQ:PAHC) last issued its earnings results on Tuesday, August 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Phibro Animal Health had a net margin of 6.59% and a return on equity of 29.99%. The company had revenue of $203.90 million during the quarter, compared to analyst estimates of $206.00 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s quarterly revenue was down 3.7% on a year-over-year basis. On average, analysts forecast that Phibro Animal Health Corp will post 1.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Tuesday, September 3rd. Phibro Animal Health’s payout ratio is 31.37%.
In related news, Director E Thomas Corcoran bought 5,000 shares of the stock in a transaction dated Friday, August 30th. The stock was acquired at an average price of $21.21 per share, for a total transaction of $106,050.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $318,150. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 50.05% of the company’s stock.
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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