Geode Capital Management LLC boosted its position in shares of Innospec Inc. (NASDAQ:IOSP) by 4.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,856 shares of the specialty chemicals company’s stock after buying an additional 9,461 shares during the period. Geode Capital Management LLC owned about 0.83% of Innospec worth $13,005,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new stake in Innospec during the first quarter worth about $132,000. Victory Capital Management Inc. increased its stake in Innospec by 18.1% in the first quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock worth $150,000 after buying an additional 354 shares during the period. State of Alaska Department of Revenue increased its stake in Innospec by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 2,660 shares of the specialty chemicals company’s stock worth $172,000 after buying an additional 70 shares during the period. Stevens Capital Management LP bought a new position in shares of Innospec during the first quarter worth approximately $240,000. Finally, HPM Partners LLC bought a new position in shares of Innospec during the first quarter worth approximately $307,000. 90.52% of the stock is owned by hedge funds and other institutional investors.
Innospec Inc. (NASDAQ IOSP) opened at 57.75 on Friday. The firm has a market cap of $1.39 billion, a PE ratio of 18.39 and a beta of 1.15. The company has a 50 day moving average price of $63.77 and a 200 day moving average price of $64.95. Innospec Inc. has a 1-year low of $54.45 and a 1-year high of $74.75.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. The company had revenue of $326.30 million for the quarter. Innospec had a return on equity of 15.01% and a net margin of 7.22%. On average, equities research analysts forecast that Innospec Inc. will post $4.12 earnings per share for the current year.
A number of research analysts have commented on IOSP shares. Zacks Investment Research upgraded Innospec from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a research note on Tuesday, May 16th. BidaskClub cut Innospec from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Finally, ValuEngine cut Innospec from a “buy” rating to a “hold” rating in a research note on Monday.
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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