Magnetar Financial LLC purchased a new position in Innospec Inc. (NASDAQ:IOSP - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 7,181 shares of the specialty chemicals company's stock, valued at approximately $680,000.
Several other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in shares of Innospec by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 132,493 shares of the specialty chemicals company's stock worth $12,554,000 after purchasing an additional 3,045 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Innospec by 9.3% during the 1st quarter. Rhumbline Advisers now owns 77,760 shares of the specialty chemicals company's stock worth $7,368,000 after purchasing an additional 6,602 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Innospec by 27.7% during the 1st quarter. American Century Companies Inc. now owns 47,545 shares of the specialty chemicals company's stock worth $4,505,000 after purchasing an additional 10,309 shares in the last quarter. Deutsche Bank AG grew its holdings 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 purchasing an additional 8,286 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Innospec by 1.1% during the 4th quarter. Ameriprise Financial Inc. now owns 69,578 shares of the specialty chemicals company's stock worth $7,658,000 after purchasing an additional 778 shares in the last quarter. 96.64% of the stock is owned by institutional investors.
Innospec Trading Down 1.5%
IOSP stock traded down $1.28 during trading on Wednesday, hitting $85.81. The company had a trading volume of 199,049 shares, compared to its average volume of 175,223. The company has a fifty day moving average price of $84.65 and a two-hundred day moving average price of $89.23. The company has a market cap of $2.13 billion, a P/E ratio of 110.01 and a beta of 1.11. Innospec Inc. has a fifty-two week low of $74.10 and a fifty-two week 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 EPS 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 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 previous year, the firm earned $1.39 EPS. On average, analysts expect that Innospec Inc. will post 6.18 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen lowered 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, Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".
Read Our Latest Stock Report on Innospec
Innospec Profile
(
Free Report)
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.
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