Two Sigma Advisers LP lifted its position in Innospec Inc. (NASDAQ:IOSP) by 50.6% during the 1st quarter, Holdings Channel reports. The firm owned 26,200 shares of the specialty chemicals company’s stock after buying an additional 8,800 shares during the quarter. Two Sigma Advisers LP’s holdings in Innospec were worth $1,821,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Innospec in the fourth quarter valued at about $34,406,000. Wells Fargo & Company MN increased its position in Innospec by 13.7% in the 1st quarter. Wells Fargo & Company MN now owns 1,473,190 shares of the specialty chemicals company’s stock valued at $102,372,000 after acquiring an additional 177,350 shares in the last quarter. State Street Corp lifted its position in shares of Innospec by 6.4% during the first quarter. State Street Corp now owns 756,281 shares of the specialty chemicals company’s stock worth $52,554,000 after purchasing an additional 45,385 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Innospec by 18.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 205,754 shares of the specialty chemicals company’s stock worth $21,284,000 after purchasing an additional 32,246 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Innospec during the fourth quarter valued at approximately $3,084,000. 93.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IOSP stock opened at $77.25 on Wednesday. The firm’s 50 day moving average price is $75.09 and its two-hundred day moving average price is $84.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.43 and a current ratio of 2.36. Innospec Inc. has a 52-week low of $56.71 and a 52-week high of $107.85. The stock has a market cap of $1.73 billion, a PE ratio of 16.37 and a beta of 1.21.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.42 earnings per share for the quarter. Innospec had a return on equity of 14.77% and a net margin of 7.79%. The company had revenue of $372.30 million for the quarter, compared to the consensus estimate of $380.00 million. During the same quarter in the prior year, the business posted $1.25 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis.
Several research analysts have issued reports on IOSP shares. BidaskClub downgraded Innospec from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. ValuEngine upgraded Innospec from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Finally, CL King dropped their price objective on Innospec from $103.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, May 13th.
In other Innospec news, VP Catherine Hessner sold 2,855 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $77.86, for a total value of $222,290.30. Following the completion of the sale, the vice president now owns 17,855 shares of the company’s stock, valued at $1,390,190.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.42% of the company’s stock.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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