Innospec Inc. $IOSP Shares Bought by Numerai GP LLC

Numerai GP LLC grew its stake in Innospec Inc. (NASDAQ:IOSP) by 29.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,541 shares of the specialty chemicals company’s stock after buying an additional 18,649 shares during the quarter. Innospec accounts for about 0.9% of Numerai GP LLC’s portfolio, making the stock its 16th largest holding. Numerai GP LLC owned about 0.33% of Innospec worth $6,292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of IOSP. Geode Capital Management LLC boosted its position in Innospec by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 719,598 shares of the specialty chemicals company’s stock worth $60,517,000 after purchasing an additional 14,463 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Innospec by 56.8% in the 3rd quarter. AlphaQuest LLC now owns 45,174 shares of the specialty chemicals company’s stock valued at $3,486,000 after purchasing an additional 16,360 shares during the period. Entropy Technologies LP acquired a new position in shares of Innospec in the 2nd quarter valued at $873,000. Public Sector Pension Investment Board boosted its holdings in Innospec by 14.0% during the third quarter. Public Sector Pension Investment Board now owns 96,866 shares of the specialty chemicals company’s stock worth $7,474,000 after buying an additional 11,907 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Innospec during the second quarter worth $650,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Stock Performance

Innospec stock opened at $68.12 on Tuesday. The company’s fifty day moving average price is $79.91 and its 200 day moving average price is $78.17. Innospec Inc. has a 1 year low of $67.84 and a 1 year high of $99.77. The stock has a market capitalization of $1.69 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.81 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. The company had revenue of $455.60 million during the quarter, compared to analysts’ expectations of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. Sell-side analysts predict that Innospec Inc. will post 6.18 EPS for the current year.

Insider Activity at Innospec

In related news, Director Larry Padfield sold 594 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $76.56, for a total transaction of $45,476.64. Following the completion of the transaction, the director owned 9,453 shares in the company, valued at $723,721.68. This represents a 5.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Landless sold 594 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $76.56, for a total transaction of $45,476.64. Following the completion of the transaction, the director directly owned 7,632 shares in the company, valued at $584,305.92. This represents a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,989 shares of company stock worth $391,889 over the last three months. Company insiders own 1.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IOSP shares. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Zacks Research lowered shares of Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.