Innospec Inc. $IOSP Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Innospec Inc. by 2.8% during Q1, resulting in ownership of approximately 318,306 shares valued at $30,159,000.
• Innospec's recent earnings report showed an EPS of $1.26, beating estimates, with revenue slightly below forecast at $439.70 million.
• Analysts have recently downgraded Innospec from a "buy" to a "hold" rating, although the stock retains a consensus "Strong Buy" rating among some analysts.

Northern Trust Corp cut its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,306 shares of the specialty chemicals company's stock after selling 9,170 shares during the period. Northern Trust Corp owned 1.27% of Innospec worth $30,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Tsfg LLC acquired a new position in Innospec in the first quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Innospec in the first quarter valued at approximately $121,000. State of Wyoming boosted its holdings in Innospec by 167.0% in the fourth quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock valued at $217,000 after purchasing an additional 1,236 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Innospec in the fourth quarter valued at approximately $237,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Innospec by 27.6% in the fourth quarter. Point72 Asset Management L.P. now owns 2,425 shares of the specialty chemicals company's stock valued at $267,000 after acquiring an additional 525 shares during the period. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Price Performance

Shares of IOSP stock traded down $0.27 during trading hours on Thursday, hitting $85.55. The stock had a trading volume of 46,919 shares, compared to its average volume of 200,348. The firm has a market capitalization of $2.12 billion, a PE ratio of 109.67 and a beta of 1.11. Innospec Inc. has a twelve month low of $74.10 and a twelve month high of $128.35. The stock's 50 day moving average is $84.65 and its 200 day moving average is $89.23.

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 analysts' consensus estimates of $1.17 by $0.09. The business 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%.The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.39 earnings per share. As a group, equities analysts predict that Innospec Inc. will post 6.18 earnings per share for the current year.

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.