GSA Capital Partners LLP lowered its position in Innospec Inc. (NASDAQ:IOSP) by 8.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,975 shares of the specialty chemicals company’s stock after selling 667 shares during the quarter. GSA Capital Partners LLP’s holdings in Innospec were worth $457,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Innospec in the second quarter valued at $106,000. Ameritas Investment Partners Inc. acquired a new stake in Innospec in the first quarter valued at $132,000. Victory Capital Management Inc. lifted its stake in Innospec by 18.1% in the first quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock valued at $150,000 after acquiring an additional 354 shares during the last quarter. Amalgamated Bank lifted its stake in Innospec by 1.8% in the second quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 57 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in Innospec in the first quarter valued at $240,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.
Shares of Innospec Inc. (NASDAQ IOSP) opened at 63.20 on Thursday. Innospec Inc. has a 1-year low of $54.10 and a 1-year high of $74.75. The firm has a market cap of $1.53 billion, a PE ratio of 20.12 and a beta of 1.18. The stock’s 50 day moving average is $58.30 and its 200-day moving average is $62.13.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.08. The company had revenue of $326.30 million for the quarter. Innospec had a net margin of 7.22% and a return on equity of 14.77%. Analysts expect that Innospec Inc. will post $4.28 earnings per share for the current year.
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A number of analysts have commented on the stock. Zacks Investment Research cut shares of Innospec from a “buy” rating to a “hold” rating and set a $63.00 price target for the company. in a research note on Tuesday, September 12th. BidaskClub cut shares of Innospec from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. ValuEngine cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Monness Crespi & Hardt upgraded shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, August 22nd.
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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