Alambic Investment Management L.P. trimmed its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,300 shares of the specialty chemicals company’s stock after selling 1,400 shares during the period. Alambic Investment Management L.P. owned approximately 0.06% of Innospec worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Schwab Charles Investment Management Inc. lifted its position in shares of Innospec by 7.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 158,091 shares of the specialty chemicals company’s stock worth $9,747,000 after purchasing an additional 10,333 shares during the last quarter. BlackRock Inc. raised its holdings in Innospec by 2.4% in the 2nd quarter. BlackRock Inc. now owns 3,041,897 shares of the specialty chemicals company’s stock valued at $199,396,000 after acquiring an additional 70,615 shares in the last quarter. Mondrian Investment Partners LTD raised its holdings in Innospec by 22.2% in the 3rd quarter. Mondrian Investment Partners LTD now owns 82,307 shares of the specialty chemicals company’s stock valued at $5,074,000 after acquiring an additional 14,942 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Innospec in the 2nd quarter valued at approximately $9,334,000. Finally, GSA Capital Partners LLP raised its holdings in Innospec by 306.8% in the 3rd quarter. GSA Capital Partners LLP now owns 28,376 shares of the specialty chemicals company’s stock valued at $1,749,000 after acquiring an additional 21,401 shares in the last quarter. Hedge funds and other institutional investors own 91.02% of the company’s stock.
Innospec Inc. (NASDAQ:IOSP) opened at $67.05 on Wednesday. The firm has a market capitalization of $1,605.15, a PE ratio of 18.57 and a beta of 1.07. The company has a quick ratio of 1.35, a current ratio of 2.24 and a debt-to-equity ratio of 0.30. Innospec Inc. has a 1-year low of $54.10 and a 1-year high of $74.75.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, February 13th. The specialty chemicals company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.30. Innospec had a return on equity of 15.05% and a net margin of 7.45%. sell-side analysts expect that Innospec Inc. will post 4.3 earnings per share for the current fiscal year.
In other news, Director Milton C. Blackmore sold 977 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $73.67, for a total transaction of $71,975.59. Following the completion of the sale, the director now owns 6,977 shares in the company, valued at $513,995.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Ian Cleminson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $71.67, for a total value of $358,350.00. Following the sale, the chief financial officer now owns 22,997 shares of the company’s stock, valued at approximately $1,648,194.99. The disclosure for this sale can be found here. Insiders have sold 24,366 shares of company stock valued at $1,743,891 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Innospec from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a report on Friday, November 10th. Johnson Rice upgraded Innospec from a “hold” rating to an “accumulate” rating in a research report on Tuesday, November 14th. BidaskClub raised Innospec from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. ValuEngine raised Innospec from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, KeyCorp reissued an “overweight” rating on shares of Innospec in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Innospec presently has a consensus rating of “Hold” and a consensus target price of $70.50.
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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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