AlphaQuest LLC Has $281,000 Holdings in Innospec Inc. $IOSP

Key Points

• AlphaQuest LLC has drastically reduced its stake in Innospec Inc. by 76.6%, selling 9,689 shares and now holding only 2,967 shares valued at $281,000.
• Wall Street analysts have lowered Innospec's rating from "buy" to "hold", although the stock maintains a consensus rating of "Strong Buy."
• Innospec's latest quarterly earnings exceeded expectations with earnings per share of $1.26, compared to a consensus estimate of $1.17, despite a slight decline in revenue year-over-year.

AlphaQuest LLC decreased its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 76.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,967 shares of the specialty chemicals company's stock after selling 9,689 shares during the quarter. AlphaQuest LLC's holdings in Innospec were worth $281,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of IOSP. US Bancorp DE grew its stake in Innospec by 4.2% in the 1st quarter. US Bancorp DE now owns 5,082 shares of the specialty chemicals company's stock worth $482,000 after acquiring an additional 207 shares in the last quarter. Hsbc Holdings PLC raised its position in Innospec by 2.9% during the 1st quarter. Hsbc Holdings PLC now owns 7,398 shares of the specialty chemicals company's stock worth $700,000 after buying an additional 208 shares during the last quarter. Gotham Asset Management LLC boosted its stake in shares of Innospec by 4.6% in the fourth quarter. Gotham Asset Management LLC now owns 5,684 shares of the specialty chemicals company's stock worth $626,000 after buying an additional 252 shares during the last quarter. Tsfg LLC purchased a new position in Innospec in the first quarter valued at $35,000. Finally, Ethic Inc. lifted its position in shares of Innospec by 12.0% during the 4th quarter. Ethic Inc. now owns 3,790 shares of the specialty chemicals company's stock valued at $417,000 after buying an additional 406 shares in the last quarter. Institutional investors own 96.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has an average rating of "Strong Buy".

Innospec Price Performance

IOSP traded down $1.26 during trading on Wednesday, hitting $85.84. The company's stock had a trading volume of 16,797 shares, compared to its average volume of 200,170. The stock has a market cap of $2.13 billion, a PE ratio of 110.14 and a beta of 1.11. The firm's 50 day moving average price is $84.61 and its 200-day moving average price is $89.25. Innospec Inc. has a twelve month low of $74.10 and a twelve month high of $128.35.

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 for the quarter, beating 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 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 business earned $1.39 EPS. Innospec's revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts anticipate that Innospec Inc. will post 6.18 earnings per share 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.