Algert Global LLC Cuts 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 reduced its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 15.7% in the 1st quarter, according to its most recent filing with the 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 0.11% of Innospec worth $2,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Innospec by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 132,493 shares of the specialty chemicals company's stock valued at $12,554,000 after acquiring an additional 3,045 shares during the last quarter. Rhumbline Advisers raised its stake in Innospec by 9.3% during the 1st quarter. Rhumbline Advisers now owns 77,760 shares of the specialty chemicals company's stock valued at $7,368,000 after acquiring an additional 6,602 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Innospec by 14.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,554 shares of the specialty chemicals company's stock worth $3,033,000 after buying an additional 3,578 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Innospec by 60.5% during the 4th quarter. Deutsche Bank AG now owns 21,983 shares of the specialty chemicals company's stock worth $2,419,000 after buying an additional 8,286 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Innospec during the 4th quarter worth approximately $936,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Stock Down 0.8%

Shares of IOSP traded down $0.69 on Tuesday, reaching $85.93. The stock had a trading volume of 171,163 shares, compared to its average volume of 197,170. The firm has a 50-day moving average of $84.17 and a 200 day moving average of $90.05. The firm has a market capitalization of $2.13 billion, a PE ratio of 110.17 and a beta of 1.07. 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 earnings results 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. The firm had revenue of $439.70 million for the quarter, compared to analysts' expectations of $440.70 million. Innospec had a return on equity of 10.89% and a net margin of 1.08%.Innospec's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. On average, sell-side analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded 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 data from MarketBeat, Innospec 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.