Innospec Inc. (IOSP) Position Lifted by Pinebridge Investments L.P.
Pinebridge Investments L.P. boosted its holdings in Innospec Inc. (NASDAQ:IOSP) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,180 shares of the specialty chemicals company’s stock after acquiring an additional 41 shares during the period. Pinebridge Investments L.P.’s holdings in Innospec were worth $209,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Innospec in the second quarter valued at approximately $106,000. Ameritas Investment Partners Inc. acquired a new position in Innospec in the first quarter valued at approximately $132,000. Victory Capital Management Inc. lifted its holdings in Innospec by 18.1% in the first quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock valued at $150,000 after acquiring an additional 354 shares during the last quarter. Amalgamated Bank lifted its holdings in Innospec by 1.8% in the second quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 57 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in Innospec in the first quarter valued at approximately $240,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.
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Innospec Inc. (IOSP) opened at 62.40 on Friday. Innospec Inc. has a 1-year low of $54.10 and a 1-year high of $74.75. The firm has a market capitalization of $1.51 billion, a PE ratio of 19.87 and a beta of 1.18. The firm’s 50-day moving average price is $57.50 and its 200-day moving average price is $62.11.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share for the quarter, beating 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 research analysts predict that Innospec Inc. will post $4.28 EPS for the current fiscal year.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Innospec from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Wednesday, August 16th. ValuEngine cut Innospec from a “buy” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub cut Innospec from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Monness Crespi & Hardt upgraded Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, August 22nd.
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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