Tredje AP fonden Has $423,000 Stake in Innospec Inc. $IOSP

Tredje AP fonden reduced its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 63.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,478 shares of the specialty chemicals company’s stock after selling 9,569 shares during the period. Tredje AP fonden’s holdings in Innospec were worth $423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Innospec by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 719,598 shares of the specialty chemicals company’s stock valued at $60,517,000 after acquiring an additional 14,463 shares during the last quarter. Brown Advisory Inc. boosted its position in Innospec by 29.5% during the second quarter. Brown Advisory Inc. now owns 426,544 shares of the specialty chemicals company’s stock worth $35,868,000 after purchasing an additional 97,129 shares during the period. Westwood Holdings Group Inc. boosted its position in Innospec by 7.8% during the second quarter. Westwood Holdings Group Inc. now owns 412,310 shares of the specialty chemicals company’s stock worth $34,671,000 after purchasing an additional 29,900 shares during the period. JPMorgan Chase & Co. grew its holdings in Innospec by 17.6% during the second quarter. JPMorgan Chase & Co. now owns 321,164 shares of the specialty chemicals company’s stock valued at $27,007,000 after purchasing an additional 48,152 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Innospec by 72.1% during the second quarter. Qube Research & Technologies Ltd now owns 306,761 shares of the specialty chemicals company’s stock valued at $25,796,000 after purchasing an additional 128,544 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IOSP. Weiss Ratings upgraded shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Zacks Research cut shares of Innospec from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Innospec currently has an average rating of “Reduce”.

Innospec Trading Down 2.8%

Shares of IOSP stock opened at $78.98 on Tuesday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 16.88 and a beta of 0.91. Innospec Inc. has a 1 year low of $70.10 and a 1 year high of $105.60. The firm’s fifty day simple moving average is $81.17 and its 200 day simple moving average is $79.30.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.24. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The firm had revenue of $455.60 million during the quarter, compared to the consensus estimate of $460.87 million. During the same period in the prior year, the firm earned $1.41 EPS. The business’s revenue was down 2.4% on a year-over-year basis. Equities research analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec Company Profile

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.