Innospec Inc. $IOSP Stock Position Decreased by Algert Global LLC

Algert Global LLC cut its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,858 shares of the specialty chemicals company’s stock after selling 5,357 shares during the quarter. Algert Global LLC owned 0.11% of Innospec worth $2,734,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IOSP. Envestnet Asset Management Inc. boosted its stake in shares of Innospec by 14.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,554 shares of the specialty chemicals company’s stock worth $3,033,000 after acquiring an additional 3,578 shares in the last quarter. Barclays PLC boosted its stake in shares of Innospec by 2.5% during the 4th quarter. Barclays PLC now owns 45,660 shares of the specialty chemicals company’s stock worth $5,026,000 after acquiring an additional 1,101 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Innospec by 11.5% during the 4th quarter. Guggenheim Capital LLC now owns 2,729 shares of the specialty chemicals company’s stock worth $300,000 after acquiring an additional 281 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Innospec during the 4th quarter worth $744,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Innospec by 195.2% during the 4th quarter. NewEdge Advisors LLC now owns 3,324 shares of the specialty chemicals company’s stock worth $366,000 after acquiring an additional 2,198 shares in the last quarter. 96.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Innospec currently has an average rating of “Strong Buy”.

Innospec Stock Down 0.6%

Shares of Innospec stock opened at $83.65 on Thursday. The stock has a market cap of $2.08 billion, a PE ratio of 107.24 and a beta of 1.07. The business has a fifty day simple moving average of $84.09 and a 200-day simple moving average of $90.94. Innospec Inc. has a 12 month low of $74.10 and a 12 month high of $128.35.

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

About Innospec

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.