Quantbot Technologies LP Buys Shares of 15,996 Innospec Inc. $IOSP

Key Points

• Quantbot Technologies LP acquired a new stake in Innospec Inc., purchasing 15,996 shares valued at approximately $1,516,000, representing 0.06% ownership of the company.
• Innospec's stock rating was downgraded from "buy" to "hold" by Wall Street Zen, although it currently holds an average rating of "Strong Buy" according to MarketBeat.com.
• Innospec's recent earnings report showed a slight 1.1% increase in quarterly revenue year-over-year, with earnings per share exceeding expectations, posting $1.26 against a consensus of $1.17.

Quantbot Technologies LP bought a new stake in Innospec Inc. (NASDAQ:IOSP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,996 shares of the specialty chemicals company's stock, valued at approximately $1,516,000. Quantbot Technologies LP owned 0.06% of Innospec at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Tsfg LLC bought a new stake in shares of Innospec during the 1st quarter valued at $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Innospec during the 1st quarter valued at $121,000. State of Wyoming raised its stake in shares of Innospec by 167.0% during the 4th 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 during the period. Quantinno Capital Management LP bought a new stake in shares of Innospec during the 4th quarter valued at $237,000. Finally, Point72 Asset Management L.P. grew its position in Innospec by 27.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,425 shares of the specialty chemicals company's stock worth $267,000 after buying an additional 525 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Innospec currently has an average rating of "Strong Buy".

Innospec Trading Up 3.7%

IOSP opened at $87.12 on Friday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 111.69 and a beta of 1.07. Innospec Inc. has a 12-month low of $74.10 and a 12-month high of $128.35. The stock has a 50-day moving average price of $84.07 and a 200-day moving average price of $90.56.

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 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. On average, equities research 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.

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.