Edgestream Partners L.P. Has $2.50 Million Stock Position in Innospec Inc. $IOSP

Key Points

• Edgestream Partners reduced its Innospec position by 26.3% in the first quarter, selling 12,208 shares and retaining 34,226 shares valued at approximately $2.50 million. Institutional investors and hedge funds collectively own 96.64% of IOSP.
• Analyst sentiment remains largely neutral: Zacks Research and Weiss Ratings upgraded the stock to “hold,” while Wall Street Zen raised its rating to “buy.” MarketBeat reports an average analyst rating of “Hold.”
• Innospec opened at $85.98, within its 52-week range of $65.51 to $92.14. Its latest quarterly results beat expectations, with earnings of $1.05 per share versus $1.02 expected and revenue of $453.2 million, up 2.8% year over year.

Edgestream Partners L.P. reduced its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 26.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,226 shares of the specialty chemicals company's stock after selling 12,208 shares during the period. Edgestream Partners L.P. owned 0.14% of Innospec worth $2,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IOSP. EverSource Wealth Advisors LLC lifted its position in Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 487 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Innospec by 271.0% in the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company's stock valued at $44,000 after purchasing an additional 420 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Innospec in the third quarter valued at about $46,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Innospec by 316.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company's stock worth $51,000 after purchasing an additional 503 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Innospec by 125.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company's stock worth $56,000 after purchasing an additional 405 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on IOSP. Zacks Research upgraded Innospec from a "strong sell" rating to a "hold" rating in a research note on Friday, April 24th. Weiss Ratings raised Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen upgraded Innospec from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold".

Innospec Stock Performance

NASDAQ:IOSP opened at $85.98 on Monday. The firm's 50-day moving average is $83.00 and its 200-day moving average is $79.41. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $92.14. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 2.37 and a beta of 0.93.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.03. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The business had revenue of $453.20 million during the quarter, compared to analyst estimates of $432.14 million. During the same quarter in the prior year, the business earned $1.42 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts predict that Innospec Inc. will post 4.84 EPS for the current year.

Innospec Profile

Innospec Incorporated NASDAQ: IOSP is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

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