Mondrian Investment Partners LTD decreased its position in shares of Innospec Inc. (NASDAQ:IOSP) by 17.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 67,640 shares of the specialty chemicals company’s stock after selling 14,667 shares during the period. Mondrian Investment Partners LTD owned about 0.28% of Innospec worth $4,775,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of IOSP. NWQ Investment Management Company LLC grew its holdings in shares of Innospec by 93.2% during the 3rd quarter. NWQ Investment Management Company LLC now owns 392,819 shares of the specialty chemicals company’s stock worth $24,217,000 after acquiring an additional 189,527 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of Innospec during the 2nd quarter worth approximately $9,334,000. Lazard Asset Management LLC grew its holdings in shares of Innospec by 25.3% during the 2nd quarter. Lazard Asset Management LLC now owns 663,360 shares of the specialty chemicals company’s stock worth $43,483,000 after acquiring an additional 134,020 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Innospec by 12.4% during the 3rd quarter. Wells Fargo & Company MN now owns 1,063,714 shares of the specialty chemicals company’s stock worth $65,578,000 after acquiring an additional 117,395 shares during the period. Finally, Wasatch Advisors Inc. grew its holdings in shares of Innospec by 116.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 191,699 shares of the specialty chemicals company’s stock worth $12,566,000 after acquiring an additional 103,152 shares during the period. Hedge funds and other institutional investors own 91.18% of the company’s stock.
Innospec Inc. (IOSP) traded up $0.35 during trading on Thursday, hitting $72.65. The company had a trading volume of 102,500 shares, compared to its average volume of 74,918. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.24 and a quick ratio of 1.35. The stock has a market cap of $1,745.15, a P/E ratio of 20.12 and a beta of 1.21. Innospec Inc. has a 52 week low of $54.10 and a 52 week high of $74.75.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.15. The company had revenue of $332.40 million for the quarter, compared to the consensus estimate of $309.40 million. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The firm’s quarterly revenue was up 61.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. research analysts predict that Innospec Inc. will post 4.3 earnings per share for the current fiscal year.
In related news, insider Philip Curran sold 1,352 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $71.05, for a total value of $96,059.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brian Watt sold 440 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $70.17, for a total value of $30,874.80. Following the completion of the sale, the vice president now owns 30,730 shares in the company, valued at approximately $2,156,324.10. The disclosure for this sale can be found here. Insiders sold a total of 24,366 shares of company stock worth $1,743,891 in the last 90 days. 2.02% of the stock is currently owned by company insiders.
A number of research analysts have weighed in on IOSP shares. Johnson Rice upgraded Innospec from a “hold” rating to an “accumulate” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded Innospec from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Friday, November 10th. ValuEngine upgraded Innospec from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. BidaskClub upgraded Innospec from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Monness Crespi & Hardt downgraded Innospec from a “buy” rating to a “neutral” rating in a research note on Thursday, November 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $70.50.
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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.
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