Algert Global LLC Has $2.73 Million Stake in Innospec Inc. $IOSP

Key Points

• Algert Global LLC reduced its stake in Innospec by 15.7% in Q1, now holding 28,858 shares valued at approximately $2.73 million.
• Innospec's stock currently has a market cap of $2.08 billion and reported $1.26 EPS in its latest earnings, surpassing analysts' expectations.
• Wall Street Zen downgraded Innospec from a "buy" to a "hold" rating, but the stock still maintains an overall average rating of "Strong Buy" based on market analysis.

Algert Global LLC lowered its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 15.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,858 shares of the specialty chemicals company's stock after selling 5,357 shares during the period. Algert Global LLC owned approximately 0.11% of Innospec worth $2,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tsfg LLC acquired a new stake in shares of Innospec in the first quarter worth about $35,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Innospec in the first quarter worth about $121,000. State of Wyoming increased its stake in Innospec by 167.0% during the fourth quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock valued at $217,000 after acquiring an additional 1,236 shares during the period. Quantinno Capital Management LP bought a new position in Innospec during the fourth quarter valued at about $237,000. Finally, R Squared Ltd bought a new position in Innospec during the first quarter valued at about $262,000. Institutional investors and hedge funds own 96.64% of the company's stock.

Wall Street Analysts Forecast Growth

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

Innospec Stock Down 0.6%

Shares of IOSP traded down $0.5160 during trading hours on Monday, reaching $86.6040. The stock had a trading volume of 54,849 shares, compared to its average volume of 201,890. Innospec Inc. has a 52 week low of $74.10 and a 52 week high of $128.35. The firm has a 50-day moving average of $84.07 and a 200 day moving average of $90.25. The company has a market cap of $2.15 billion, a P/E ratio of 111.03 and a beta of 1.07.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.26 EPS 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 business had revenue of $439.70 million during the quarter, compared to analysts' expectations of $440.70 million. During the same quarter in the prior year, the company earned $1.39 EPS. The firm's quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts expect 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.