Caxton Associates LLP Takes Position in Innospec Inc. $IOSP

Key Points

• Caxton Associates LLP has acquired a new investment of 6,182 shares in Innospec Inc. valued at approximately $586,000 during the 1st quarter.
• Wall Street Zen upgraded Innospec's rating from "hold" to "buy," contributing to a consensus rating of "Strong Buy."
• Innospec reported a quarterly earnings per share (EPS) of $1.26, beating analysts' expectations, although its revenue of $439.70 million was slightly below estimates.

Caxton Associates LLP purchased a new position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,182 shares of the specialty chemicals company's stock, valued at approximately $586,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tsfg LLC bought a new position in shares of Innospec in the 1st quarter valued at $35,000. Caitong International Asset Management Co. Ltd bought a new stake in Innospec in the first quarter worth about $121,000. State of Wyoming increased its holdings in Innospec by 167.0% in the 4th quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock worth $217,000 after acquiring an additional 1,236 shares during the last quarter. Quantinno Capital Management LP bought a new stake in Innospec during the 4th quarter valued at $237,000. Finally, Baird Financial Group Inc. lifted its holdings in shares of Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company's stock worth $206,000 after buying an additional 223 shares in the last quarter. Institutional investors own 96.64% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Innospec from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has an average rating of "Strong Buy".

Innospec Stock Performance

IOSP stock traded up $1.07 on Wednesday, hitting $82.30. 22,348 shares of the company's stock were exchanged, compared to its average volume of 199,007. The stock has a market cap of $2.04 billion, a P/E ratio of 105.51 and a beta of 1.11. The firm has a 50 day moving average price of $84.07 and a two-hundred day moving average price of $87.81. Innospec Inc. has a 12-month low of $74.10 and a 12-month high of $128.35.

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