Innospec Inc. (IOSP) Position Reduced by Comerica Bank
Comerica Bank lessened its stake in Innospec Inc. (NASDAQ:IOSP) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,319 shares of the specialty chemicals company’s stock after selling 1,343 shares during the period. Comerica Bank owned 0.10% of Innospec worth $1,631,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of IOSP. SG Americas Securities LLC purchased a new position in Innospec in the 2nd quarter worth about $106,000. Ameritas Investment Partners Inc. bought a new position in Innospec during the 1st quarter worth about $132,000. Victory Capital Management Inc. grew its holdings in Innospec by 18.1% during the 1st quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock worth $150,000 after acquiring an additional 354 shares in the last quarter. Stevens Capital Management LP bought a new position in Innospec during the 1st quarter worth about $240,000. Finally, Tudor Investment Corp ET AL bought a new position in Innospec during the 1st quarter worth about $240,000. 91.70% of the stock is currently owned by institutional investors.
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Innospec Inc. (NASDAQ:IOSP) opened at 56.15 on Wednesday. The firm’s 50-day moving average is $58.49 and its 200 day moving average is $62.72. The company has a market capitalization of $1.36 billion, a PE ratio of 17.88 and a beta of 1.18. Innospec Inc. has a one year low of $54.10 and a one year high of $74.75.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share (EPS) 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%. On average, equities analysts expect that Innospec Inc. will post $4.28 EPS for the current fiscal year.
Several research analysts have issued reports on IOSP shares. BidaskClub cut shares of Innospec from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research cut shares of Innospec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Monness Crespi & Hardt upgraded shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, August 22nd. Finally, ValuEngine cut shares of Innospec from a “buy” rating to a “hold” rating in a report on Monday, August 7th.
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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