12,545 Shares in Innospec Inc. (NASDAQ:IOSP) Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd acquired 12,545 shares of Innospec Inc. (NASDAQ:IOSP) valued at approximately $1.19 million during the first quarter, signaling increasing interest from institutional investors.
• Insider trading activity was noted as Director Leslie J. Parrette sold 446 shares at an average price of $90.63, reducing their ownership by 7.50%.
• Innospec’s latest earnings report showed an EPS of $1.42, exceeding analyst predictions, but revenues declined 11.9% year-over-year to $440.80 million.

XTX Topco Ltd bought a new stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,545 shares of the specialty chemicals company's stock, valued at approximately $1,189,000.

A number of other hedge funds also recently added to or reduced their stakes in IOSP. Tsfg LLC purchased a new stake in Innospec during the 1st quarter valued at $35,000. Covestor Ltd raised its stake in Innospec by 13.9% during the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company's stock valued at $106,000 after buying an additional 118 shares during the last quarter. Polymer Capital Management US LLC purchased a new stake in Innospec during the 4th quarter valued at $201,000. State of Wyoming raised its stake in Innospec by 167.0% during the 4th quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock valued at $217,000 after buying an additional 1,236 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in Innospec during the 4th quarter valued at $237,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Seaport Res Ptn upgraded shares of Innospec from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Wall Street Zen downgraded shares of Innospec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th.

Innospec Stock Performance

Shares of IOSP stock traded up $0.80 during mid-day trading on Monday, reaching $79.35. 162,606 shares of the company's stock traded hands, compared to its average volume of 199,331. Innospec Inc. has a 12 month low of $77.58 and a 12 month high of $128.35. The firm has a 50 day moving average price of $85.14 and a two-hundred day moving average price of $93.36. The firm has a market capitalization of $1.98 billion, a PE ratio of 73.47 and a beta of 1.07.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. Innospec had a net margin of 1.51% and a return on equity of 11.38%. The firm had revenue of $440.80 million during the quarter, compared to the consensus estimate of $466.50 million. During the same quarter in the previous year, the firm posted $1.75 EPS. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities analysts expect that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Leslie J. Parrette sold 446 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total value of $40,420.98. Following the completion of the transaction, the director owned 5,497 shares of the company's stock, valued at approximately $498,193.11. This represents a 7.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.31% of the company's stock.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.