Innospec Inc. $IOSP Shares Sold by Janus Henderson Group PLC

Key Points

• Janus Henderson reduced its Innospec stake by 11.7% in the first quarter, selling 17,579 shares and retaining 133,272 shares worth approximately $9.7 million.
• Other major investors increased their positions substantially, including Assenagon Asset Management, Western Standard, Goldman Sachs and Millennium Management. Institutional investors and hedge funds collectively own 96.64% of Innospec shares.
• Innospec reported quarterly EPS of $1.27, beating estimates by $0.22, while revenue rose 11.8% year over year to $491.4 million. Despite the strong results, analysts maintain an overall “Hold” rating, and the stock recently traded near its 52-week high at $91.96.

Janus Henderson Group PLC cut its holdings in Innospec Inc. (NASDAQ:IOSP - Free Report) by 11.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,272 shares of the specialty chemicals company's stock after selling 17,579 shares during the quarter. Janus Henderson Group PLC owned 0.54% of Innospec worth $9,732,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IOSP. Assenagon Asset Management S.A. lifted its position in shares of Innospec by 175.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 490,884 shares of the specialty chemicals company's stock valued at $35,844,000 after buying an additional 312,680 shares in the last quarter. Western Standard LLC grew its position in shares of Innospec by 894.0% in the fourth quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company's stock valued at $20,541,000 after purchasing an additional 241,367 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Innospec by 71.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 484,968 shares of the specialty chemicals company's stock worth $37,119,000 after purchasing an additional 202,325 shares in the last quarter. Millennium Management LLC raised its position in shares of Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company's stock worth $16,147,000 after purchasing an additional 168,355 shares during the last quarter. Finally, Medina Value Partners LLC raised its position in shares of Innospec by 60.5% during the 4th quarter. Medina Value Partners LLC now owns 378,769 shares of the specialty chemicals company's stock worth $28,991,000 after purchasing an additional 142,813 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Innospec Stock Performance

IOSP stock opened at $91.96 on Thursday. Innospec Inc. has a one year low of $65.51 and a one year high of $93.34. The firm has a market cap of $2.26 billion, a PE ratio of 18.77, a PEG ratio of 2.39 and a beta of 0.93. The firm's 50 day moving average price is $83.41 and its 200-day moving average price is $79.56.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.22. Innospec had a return on equity of 9.25% and a net margin of 6.60%.The company had revenue of $491.40 million during the quarter, compared to analysts' expectations of $457.25 million. During the same quarter last year, the firm earned $1.26 earnings per share. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts predict that Innospec Inc. will post 4.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Innospec

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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