Caitong International Asset Management Co. Ltd Sells 786 Shares of Innospec Inc. $IOSP

Caitong International Asset Management Co. Ltd lessened its position in Innospec Inc. (NASDAQ:IOSP) by 61.3% in the second quarter, HoldingsChannel.com reports. The fund owned 496 shares of the specialty chemicals company’s stock after selling 786 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Innospec were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of IOSP. Allspring Global Investments Holdings LLC boosted its holdings in shares of Innospec by 0.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,404,825 shares of the specialty chemicals company’s stock worth $227,352,000 after buying an additional 19,018 shares during the period. Tsfg LLC bought a new stake in shares of Innospec during the 1st quarter worth about $35,000. ZWJ Investment Counsel Inc. boosted its holdings in shares of Innospec by 6.6% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 46,311 shares of the specialty chemicals company’s stock worth $4,388,000 after buying an additional 2,885 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Innospec by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 132,493 shares of the specialty chemicals company’s stock worth $12,554,000 after buying an additional 3,045 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Innospec by 2.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 28,194 shares of the specialty chemicals company’s stock worth $2,671,000 after buying an additional 640 shares during the period. Institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on IOSP. Wall Street Zen downgraded shares of Innospec from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Weiss Ratings downgraded shares of Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Innospec Stock Up 0.9%

Shares of Innospec stock opened at $76.31 on Friday. Innospec Inc. has a twelve month low of $73.39 and a twelve month high of $128.35. The company has a 50-day simple moving average of $80.55 and a two-hundred day simple moving average of $84.22. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 97.83 and a beta of 1.04.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.09. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The business had revenue of $439.70 million during the quarter, compared to analysts’ expectations of $440.70 million. During the same quarter in the previous year, the company earned $1.39 EPS. The business’s revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.