Jane Street Group LLC Purchases 89,476 Shares of Innospec Inc. $IOSP

Key Points

• Jane Street Group LLC significantly increased its stake in Innospec Inc., acquiring an additional 89,476 shares, resulting in a total ownership of approximately 95,243 shares valued at $9.02 million.
• Innospec reported a quarterly EPS of $1.26, exceeding analysts' expectations of $1.17, though its revenue of $439.70 million fell slightly short of the estimated $440.70 million.
• Despite its recent performance, Wall Street Zen downgraded the stock rating from "buy" to "hold," while the consensus rating remains at "Strong Buy" from other analysts.

Jane Street Group LLC lifted its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 1,551.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,243 shares of the specialty chemicals company's stock after buying an additional 89,476 shares during the quarter. Jane Street Group LLC owned about 0.38% of Innospec worth $9,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IOSP. Nuveen LLC acquired a new position in Innospec in the 1st quarter valued at $42,966,000. Financial Harvest LLC acquired a new stake in shares of Innospec in the first quarter worth $41,107,000. Brown Advisory Inc. bought a new position in Innospec during the first quarter worth $31,212,000. Victory Capital Management Inc. increased its position in Innospec by 20.0% during the first quarter. Victory Capital Management Inc. now owns 1,106,482 shares of the specialty chemicals company's stock worth $104,839,000 after acquiring an additional 184,262 shares during the period. Finally, Westwood Holdings Group Inc. increased its position in Innospec by 28.3% during the first quarter. Westwood Holdings Group Inc. now owns 382,410 shares of the specialty chemicals company's stock worth $36,233,000 after acquiring an additional 84,314 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Trading Up 0.1%

IOSP stock traded up $0.05 during trading on Thursday, reaching $85.86. 125,288 shares of the stock were exchanged, compared to its average volume of 200,844. Innospec Inc. has a twelve month low of $74.10 and a twelve month high of $128.35. The company has a market capitalization of $2.13 billion, a P/E ratio of 110.08 and a beta of 1.11. The stock has a 50 day simple moving average of $84.65 and a 200-day simple moving average of $89.23.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.09. The business had revenue of $439.70 million for the quarter, compared to analyst estimates of $440.70 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. Equities analysts predict that Innospec Inc. will post 6.18 EPS 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.