Cubist Systematic Strategies LLC Boosts Holdings in Innospec Inc. $IOSP

Key Points

• Cubist Systematic Strategies LLC increased its stake in Innospec Inc. by 198.8%, acquiring 86,780 shares in the first quarter, resulting in ownership of 130,427 shares valued at $12,358,000.
• Innospec reported $1.26 EPS for the last quarter, surpassing the consensus estimate of $1.17, but its revenue of $439.70 million slightly missed expectations.
• Wall Street analysts have mixed opinions on Innospec, with one research firm downgrading its rating from a "buy" to a "hold," while the overall average rating remains a "Strong Buy."

Cubist Systematic Strategies LLC raised its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 198.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,427 shares of the specialty chemicals company's stock after purchasing an additional 86,780 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.52% of Innospec worth $12,358,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IOSP. Nuveen LLC acquired a new position in Innospec during the 1st quarter valued at approximately $42,966,000. Financial Harvest LLC acquired a new position in Innospec during the 1st quarter valued at approximately $41,107,000. Brown Advisory Inc. acquired a new position in Innospec during the 1st quarter valued at approximately $31,212,000. Victory Capital Management Inc. increased its stake in Innospec by 20.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,106,482 shares of the specialty chemicals company's stock valued at $104,839,000 after purchasing an additional 184,262 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Innospec by 1,551.5% during the 1st quarter. Jane Street Group LLC now owns 95,243 shares of the specialty chemicals company's stock valued at $9,024,000 after purchasing an additional 89,476 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Innospec Stock Performance

NASDAQ IOSP traded down $1.28 during mid-day trading on Wednesday, reaching $85.81. 199,049 shares of the stock were exchanged, compared to its average volume of 175,223. The business's 50 day moving average is $84.65 and its 200-day moving average is $89.23. Innospec Inc. has a 1 year low of $74.10 and a 1 year high of $128.35. The company has a market capitalization of $2.13 billion, a P/E ratio of 110.01 and a beta of 1.11.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) 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 firm had revenue of $439.70 million for the quarter, compared to the consensus estimate of $440.70 million. During the same period in the prior year, the firm posted $1.39 earnings per share. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Strong Buy".

Innospec 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.