Two Sigma Advisers LP grew its position in shares of Innospec Inc. (NASDAQ:IOSP) by 50.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,200 shares of the specialty chemicals company’s stock after buying an additional 8,800 shares during the period. Two Sigma Advisers LP owned about 0.11% of Innospec worth $1,821,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. increased its stake 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 valued at $3,209,000 after purchasing an additional 1,273 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Innospec by 61.1% during the 4th quarter. Victory Capital Management Inc. now owns 13,152 shares of the specialty chemicals company’s stock valued at $1,360,000 after buying an additional 4,986 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Innospec by 63.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 260 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 101 shares during the period. Bank of Montreal Can lifted its holdings in Innospec by 108.5% in the fourth quarter. Bank of Montreal Can now owns 43,450 shares of the specialty chemicals company’s stock worth $4,495,000 after acquiring an additional 22,614 shares during the last quarter. Finally, Martingale Asset Management L P bought a new position in Innospec in the fourth quarter worth about $1,087,000. Institutional investors own 93.54% of the company’s stock.
In related news, VP Catherine Hessner sold 2,855 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $77.86, for a total value of $222,290.30. Following the completion of the sale, the vice president now owns 17,855 shares of the company’s stock, valued at $1,390,190.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.42% of the company’s stock.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter. The business had revenue of $372.30 million during the quarter, compared to analyst estimates of $380.00 million. Innospec had a return on equity of 14.77% and a net margin of 7.79%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS.
Several analysts recently issued reports on the company. ValuEngine raised Innospec from a “sell” rating to a “hold” rating in a report on Monday, March 9th. BidaskClub cut Innospec from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, CL King lowered their price target on shares of Innospec from $103.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th.
Innospec Company Profile
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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