Caxton Associates LLP Makes New Investment 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 acquired a new position in Innospec Inc. (NASDAQ:IOSP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,182 shares of the specialty chemicals company's stock, valued at approximately $586,000.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Innospec by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 132,493 shares of the specialty chemicals company's stock worth $12,554,000 after purchasing an additional 3,045 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Innospec by 9.3% during the 1st quarter. Rhumbline Advisers now owns 77,760 shares of the specialty chemicals company's stock valued at $7,368,000 after buying an additional 6,602 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Innospec by 27.7% during the 1st quarter. American Century Companies Inc. now owns 47,545 shares of the specialty chemicals company's stock valued at $4,505,000 after buying an additional 10,309 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Innospec by 60.5% during the 4th quarter. Deutsche Bank AG now owns 21,983 shares of the specialty chemicals company's stock valued at $2,419,000 after buying an additional 8,286 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Innospec by 1.1% during the 4th quarter. Ameriprise Financial Inc. now owns 69,578 shares of the specialty chemicals company's stock valued at $7,658,000 after buying an additional 778 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Innospec from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Strong Buy".

Innospec Stock Performance

Shares of IOSP stock opened at $83.65 on Friday. The stock's fifty day moving average is $84.46 and its two-hundred day moving average is $88.39. The firm has a market capitalization of $2.08 billion, a P/E ratio of 107.24 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 announced its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The company had revenue of $439.70 million for the quarter, compared to analyst estimates of $440.70 million. During the same quarter last year, the firm posted $1.39 EPS. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current 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.

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