Assenagon Asset Management S.A. Purchases Shares of 21,143 Innospec Inc. $IOSP

Key Points

• Assenagon Asset Management S.A. has acquired a new stake in Innospec Inc., purchasing 21,143 shares valued at approximately $1,778,000, which represents about 0.08% of the company.
• Other hedge funds have also recently increased their stakes, with a total of 96.64% of Innospec stock now owned by institutional investors.
• Analysts have lowered Innospec's rating from "buy" to "hold," despite an average rating of "Strong Buy" among analysts, indicating mixed sentiment about the stock's performance.

Assenagon Asset Management S.A. purchased a new stake in Innospec Inc. (NASDAQ:IOSP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,143 shares of the specialty chemicals company's stock, valued at approximately $1,778,000. Assenagon Asset Management S.A. owned about 0.08% of Innospec as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Tsfg LLC purchased a new stake in Innospec in the first quarter valued at $35,000. Caitong International Asset Management Co. Ltd purchased a new stake in Innospec in the first quarter valued at $121,000. Banque Transatlantique SA purchased a new stake in Innospec in the first quarter valued at $196,000. Baird Financial Group Inc. boosted its holdings in Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company's stock valued at $206,000 after purchasing an additional 223 shares during the last quarter. Finally, DRW Securities LLC purchased a new stake in Innospec in the first quarter valued at $221,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Innospec from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Strong Buy".

Innospec Stock Performance

Shares of Innospec stock opened at $77.54 on Friday. The firm has a 50-day simple moving average of $82.92 and a two-hundred day simple moving average of $86.80. The company has a market cap of $1.93 billion, a P/E ratio of 99.41 and a beta of 1.11. Innospec Inc. has a fifty-two week low of $74.10 and a fifty-two week high of $128.35.

Innospec (NASDAQ:IOSP - Get Free Report) last issued 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. The business had revenue of $439.70 million during the quarter, compared to the consensus estimate of $440.70 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The company's revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Equities research analysts forecast that Innospec Inc. will post 6.18 EPS for the current year.

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.

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