Campbell & CO Investment Adviser LLC bought a new stake in Innospec Inc. (NASDAQ:IOSP) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 5,586 shares of the specialty chemicals company’s stock, valued at approximately $354,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in IOSP. Amundi Pioneer Asset Management Inc. boosted its position in Innospec by 3.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 38,501 shares of the specialty chemicals company’s stock worth $3,209,000 after purchasing an additional 1,273 shares in the last quarter. Victory Capital Management Inc. grew its stake in Innospec by 3.6% in the 1st quarter. Victory Capital Management Inc. now owns 13,619 shares of the specialty chemicals company’s stock valued at $946,000 after acquiring an additional 467 shares during the period. Alliancebernstein L.P. increased its holdings in Innospec by 1.5% in the 1st quarter. Alliancebernstein L.P. now owns 36,728 shares of the specialty chemicals company’s stock worth $2,552,000 after acquiring an additional 550 shares in the last quarter. Deutsche Bank AG raised its position in Innospec by 4.9% during the first quarter. Deutsche Bank AG now owns 25,854 shares of the specialty chemicals company’s stock worth $1,797,000 after acquiring an additional 1,198 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Innospec by 8.9% during the first quarter. Legal & General Group Plc now owns 77,823 shares of the specialty chemicals company’s stock valued at $5,408,000 after purchasing an additional 6,351 shares in the last quarter. 94.42% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:IOSP opened at $68.78 on Friday. The company has a market cap of $1.69 billion, a P/E ratio of 31.26 and a beta of 1.32. Innospec Inc. has a twelve month low of $56.71 and a twelve month high of $107.85. The company’s 50-day moving average price is $68.22 and its 200-day moving average price is $73.04. The company has a current ratio of 2.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.04.
Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.49). The business had revenue of $244.90 million during the quarter, compared to analysts’ expectations of $278.65 million. Innospec had a return on equity of 11.10% and a net margin of 3.96%. The company’s revenue for the quarter was down 32.4% compared to the same quarter last year. During the same period last year, the business earned $1.12 earnings per share. On average, analysts expect that Innospec Inc. will post 2.5 earnings per share for the current year.
In other Innospec news, CEO Patrick Williams sold 8,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $80.27, for a total transaction of $642,160.00. Following the transaction, the chief executive officer now owns 171,195 shares of the company’s stock, valued at $13,741,822.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.42% of the company’s stock.
Several research analysts recently weighed in on IOSP shares. BidaskClub upgraded shares of Innospec from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 7th. TheStreet cut Innospec from a “b-” rating to a “c+” rating in a report on Wednesday, August 5th. Finally, Zacks Investment Research raised Innospec from a “strong sell” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $95.00.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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