Leeward Investments LLC MA Sells 7,273 Shares of Innospec Inc. $IOSP

Leeward Investments LLC MA trimmed its holdings in Innospec Inc. (NASDAQ:IOSP) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 118,035 shares of the specialty chemicals company’s stock after selling 7,273 shares during the period. Leeward Investments LLC MA owned 0.48% of Innospec worth $11,251,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in shares of Innospec during the third quarter worth about $30,000. Meeder Asset Management Inc. purchased a new stake in Innospec during the 2nd quarter worth $36,000. Rockefeller Capital Management L.P. increased its stake in Innospec by 125.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company’s stock worth $56,000 after buying an additional 405 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Innospec during the 2nd quarter worth $62,000. Finally, Farther Finance Advisors LLC lifted its holdings in Innospec by 94.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 675 shares of the specialty chemicals company’s stock worth $64,000 after buying an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Seaport Research Partners reaffirmed a “buy” rating and set a $110.00 target price on shares of Innospec in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Innospec from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of “Hold”.

Innospec Stock Performance

Innospec stock opened at $98.64 on Monday. Innospec Inc. has a 52 week low of $65.51 and a 52 week high of $100.48. The stock has a market cap of $2.43 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.90. The stock has a 50 day moving average of $95.37 and a 200-day moving average of $86.64.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.22. The business had revenue of $491.40 million during the quarter, compared to analyst estimates of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 earnings per share. As a group, equities analysts predict that Innospec Inc. will post 5.01 earnings per share for the current fiscal year.

About Innospec

Innospec Inc (NASDAQ: IOSP) is a global specialty chemicals company that develops, manufactures and markets products used in the fuel, oilfield, personal care and industrial markets. The company serves customers through a portfolio of chemical additives, formulations and technical services designed to improve product performance, efficiency and reliability.

Innospec operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its fuel-related products include fuel additives for gasoline, diesel, marine and other applications, including detergents, lubricity improvers, cetane improvers and other performance-enhancing formulations.