41,245 Shares in Innospec Inc. $IOSP Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in Innospec Inc. (NASDAQ:IOSP) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 41,245 shares of the specialty chemicals company’s stock, valued at approximately $3,468,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in Innospec by 38.3% during the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock valued at $57,000 after buying an additional 186 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Innospec during the first quarter valued at approximately $121,000. Banque Transatlantique SA acquired a new stake in Innospec during the first quarter valued at approximately $196,000. Baird Financial Group Inc. raised its position in shares of Innospec by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 223 shares during the period. Finally, DRW Securities LLC acquired a new stake in shares of Innospec during the 1st quarter worth approximately $221,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IOSP shares. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen cut Innospec from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Finally, Weiss Ratings cut Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Innospec Price Performance

Shares of IOSP stock opened at $73.48 on Thursday. Innospec Inc. has a 12-month low of $72.74 and a 12-month high of $128.35. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 94.21 and a beta of 1.04. The business has a 50 day simple moving average of $80.01 and a 200 day simple moving average of $83.91.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The business had revenue of $439.70 million during the quarter, compared to analyst estimates of $440.70 million. During the same period in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.