Aigen Investment Management LP Makes New $366,000 Investment in Innospec Inc. $IOSP

Key Points

• Aigen Investment Management LP has made a new investment of $366,000 in Innospec Inc. by acquiring 3,859 shares during the first quarter.
• Innospec's stock has a 52-week range with a low of $74.10 and a high of $128.35, currently trading at approximately $85.02.
• The company reported earnings of $1.26 per share for the last quarter, exceeding analyst expectations, but with a revenue of $439.70 million slightly below estimates.

Aigen Investment Management LP acquired a new stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,859 shares of the specialty chemicals company's stock, valued at approximately $366,000.

Several other institutional investors also recently bought and sold shares of IOSP. Financial Harvest LLC purchased a new position in shares of Innospec in the 1st quarter valued at approximately $41,107,000. Brown Advisory Inc. purchased a new stake in shares of Innospec during the first quarter valued at $31,212,000. Raymond James Financial Inc. acquired a new position in shares of Innospec in the 4th quarter valued at $20,992,000. Victory Capital Management Inc. raised its stake in Innospec by 20.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,106,482 shares of the specialty chemicals company's stock worth $104,839,000 after acquiring an additional 184,262 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in Innospec by 28.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 382,410 shares of the specialty chemicals company's stock worth $36,233,000 after acquiring an additional 84,314 shares during the period. 96.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on IOSP. Seaport Res Ptn upgraded Innospec from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Wall Street Zen lowered shares of Innospec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th.

Innospec Price Performance

NASDAQ IOSP traded up $0.86 during trading hours on Monday, reaching $83.80. The company's stock had a trading volume of 29,340 shares, compared to its average volume of 203,851. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 107.44 and a beta of 1.07. The company's 50-day moving average is $84.36 and its two-hundred day moving average is $91.25. Innospec Inc. has a 1-year low of $74.10 and a 1-year high of $128.35.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.09. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The company had revenue of $439.70 million during the quarter, compared to analysts' expectations of $440.70 million. During the same period in the prior year, the business posted $1.39 earnings per share. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts forecast that Innospec Inc. will post 6.18 EPS for the current fiscal year.

About Innospec

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.