Kirr Marbach & Co. LLC IN Sells 24,731 Shares of Innospec Inc. $IOSP

Key Points

• Kirr Marbach & Co. LLC IN reduced its stake in Innospec Inc. by 31.3%, selling 24,731 shares during the second quarter, leaving them with approximately 54,335 shares worth $4,569,000.
• Innospec reported a quarterly earnings of $1.26 per share, exceeding expectations, although its revenues were slightly below analysts' forecasts at $439.70 million.
• Wall Street Zen downgraded Innospec from a buy rating to a hold rating, while the overall consensus remains a Strong Buy according to MarketBeat data.

Kirr Marbach & Co. LLC IN cut its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 31.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,335 shares of the specialty chemicals company's stock after selling 24,731 shares during the quarter. Kirr Marbach & Co. LLC IN owned about 0.22% of Innospec worth $4,569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Innospec by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,210,768 shares of the specialty chemicals company's stock valued at $304,220,000 after buying an additional 30,031 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Innospec by 0.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,404,825 shares of the specialty chemicals company's stock valued at $227,352,000 after purchasing an additional 19,018 shares in the last quarter. Victory Capital Management Inc. boosted 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 valued at $104,839,000 after purchasing an additional 184,262 shares in the last quarter. Nuveen LLC acquired a new stake in Innospec in the first quarter worth about $42,966,000. Finally, Financial Harvest LLC acquired a new stake in Innospec in the first quarter worth about $41,107,000. Hedge funds and other institutional investors own 96.64% of the company's stock.

Innospec Trading Down 0.1%

Shares of IOSP stock opened at $77.54 on Friday. The stock has a 50 day moving average of $82.92 and a 200 day moving average of $86.80. The stock has a market cap of $1.93 billion, a P/E ratio of 99.41 and a beta of 1.11. 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 the consensus estimate of $1.17 by $0.09. The company had revenue of $439.70 million during 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 period last year, the business earned $1.39 earnings per share. On average, research analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Innospec from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.