SG Americas Securities LLC Invests $106,000 in Innospec Inc. (IOSP)
SG Americas Securities LLC purchased a new position in Innospec Inc. (NASDAQ:IOSP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,622 shares of the specialty chemicals company’s stock, valued at approximately $106,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Innospec in the first quarter worth $132,000. Victory Capital Management Inc. raised its holdings in shares of Innospec by 18.1% in the first quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock worth $150,000 after buying an additional 354 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Innospec in the first quarter worth $240,000. Tudor Investment Corp ET AL purchased a new position in shares of Innospec in the first quarter worth $240,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of Innospec by 79.2% in the second quarter. State of Alaska Department of Revenue now owns 4,766 shares of the specialty chemicals company’s stock worth $312,000 after buying an additional 2,106 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.
Innospec Inc. (IOSP) opened at 61.40 on Thursday. The firm has a 50 day moving average of $57.40 and a 200-day moving average of $62.28. The stock has a market cap of $1.48 billion, a PE ratio of 19.55 and a beta of 1.18. Innospec Inc. has a 12-month low of $54.10 and a 12-month high of $74.75.
Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.08. Innospec had a net margin of 7.22% and a return on equity of 14.77%. The business had revenue of $326.30 million during the quarter. On average, analysts expect that Innospec Inc. will post $4.28 earnings per share for the current year.
A number of research firms have issued reports on IOSP. Zacks Investment Research raised shares of Innospec from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, August 16th. ValuEngine cut shares of Innospec from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, August 22nd. Finally, BidaskClub cut shares of Innospec from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th.
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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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