Nordea Investment Management AB Has $2.56 Million Holdings in Innospec Inc. (IOSP)
Nordea Investment Management AB raised its stake in Innospec Inc. (NASDAQ:IOSP) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,100 shares of the specialty chemicals company’s stock after purchasing an additional 500 shares during the quarter. Nordea Investment Management AB owned 0.16% of Innospec worth $2,563,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Suntrust Banks Inc. increased its holdings in shares of Innospec by 4.0% in the second quarter. Suntrust Banks Inc. now owns 3,996 shares of the specialty chemicals company’s stock valued at $261,000 after purchasing an additional 155 shares during the period. California Public Employees Retirement System raised its stake in shares of Innospec by 16.5% during the second quarter. California Public Employees Retirement System now owns 25,400 shares of the specialty chemicals company’s stock worth $1,665,000 after purchasing an additional 3,600 shares during the last quarter. FMR LLC raised its stake in shares of Innospec by 0.6% during the second quarter. FMR LLC now owns 2,612,586 shares of the specialty chemicals company’s stock worth $171,256,000 after purchasing an additional 16,353 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Innospec by 3.9% during the second quarter. Vanguard Group Inc. now owns 2,185,201 shares of the specialty chemicals company’s stock worth $143,239,000 after purchasing an additional 82,013 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Innospec by 10.4% during the second quarter. Northern Trust Corp now owns 495,357 shares of the specialty chemicals company’s stock worth $32,470,000 after purchasing an additional 46,478 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.
IOSP has been the subject of several recent research reports. BidaskClub downgraded Innospec from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Innospec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, August 22nd. Finally, ValuEngine cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Monday, August 7th.
ILLEGAL ACTIVITY NOTICE: This story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/02/nordea-investment-management-ab-has-2-56-million-holdings-in-innospec-inc-iosp.html.
Innospec Inc. (NASDAQ:IOSP) opened at 61.65 on Monday. Innospec Inc. has a 52 week low of $54.10 and a 52 week high of $74.75. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 19.63 and a beta of 1.18. The stock’s 50 day moving average is $57.40 and its 200-day moving average is $62.28.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, August 8th. The specialty chemicals company reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.08. The firm had revenue of $326.30 million during the quarter. Innospec had a return on equity of 14.77% and a net margin of 7.22%. On average, equities research analysts expect that Innospec Inc. will post $4.28 EPS for the current year.
Innospec Company Profile
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.
Want to see what other hedge funds are holding IOSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innospec Inc. (NASDAQ:IOSP).
Receive News & Stock Ratings for Innospec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec Inc. and related stocks with our FREE daily email newsletter.