Tudor Investment Corp ET AL Sells 18,558 Shares of Innospec Inc. $IOSP

Key Points

• Tudor Investment Corp ET AL cut its Innospec stake by 81.5%, selling 18,558 shares and leaving 4,215 shares valued at about $325,000 at the end of the quarter.
• Several institutions materially rebalanced positions—Medina Value Partners bought a new stake worth ~$18.2M and Millennium Management boosted holdings to 170,414 shares (~$16.1M)—with institutional ownership at 96.64%.
• Innospec beat quarterly EPS estimates ($1.50 vs. $1.26) while revenue was slightly below forecasts and down 2.4% YoY; insiders sold ~4,989 shares in the past three months and the analyst consensus on the stock is "Reduce".

Tudor Investment Corp ET AL cut its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 81.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,215 shares of the specialty chemicals company's stock after selling 18,558 shares during the period. Tudor Investment Corp ET AL's holdings in Innospec were worth $325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IOSP. Medina Value Partners LLC bought a new stake in Innospec during the third quarter worth $18,206,000. Millennium Management LLC lifted its stake in Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company's stock worth $16,147,000 after purchasing an additional 168,355 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Innospec by 72.1% during the second quarter. Qube Research & Technologies Ltd now owns 306,761 shares of the specialty chemicals company's stock worth $25,796,000 after purchasing an additional 128,544 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Innospec by 512.0% during the third quarter. Assenagon Asset Management S.A. now owns 129,397 shares of the specialty chemicals company's stock worth $9,984,000 after purchasing an additional 108,254 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Innospec by 1,551.5% during the first quarter. Jane Street Group LLC now owns 95,243 shares of the specialty chemicals company's stock worth $9,024,000 after purchasing an additional 89,476 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Innospec Stock Up 0.6%

NASDAQ IOSP opened at $75.09 on Friday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.97 and a beta of 0.90. Innospec Inc. has a twelve month low of $65.51 and a twelve month high of $95.55. The stock has a fifty day simple moving average of $75.82 and a 200 day simple moving average of $76.58.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.24. The business had revenue of $455.60 million during the quarter, compared to analyst estimates of $460.87 million. Innospec had a return on equity of 10.18% and a net margin of 6.56%.Innospec's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.41 EPS. Research analysts expect that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Larry Padfield sold 594 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the sale, the director directly owned 9,453 shares in the company, valued at $723,721.68. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David B. Jones sold 1,028 shares of the company's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $75.64, for a total value of $77,757.92. Following the completion of the sale, the senior vice president owned 14,693 shares in the company, valued at $1,111,378.52. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 4,989 shares of company stock valued at $391,889. Insiders own 1.45% of the company's stock.

Wall Street Analyst Weigh In

IOSP has been the subject of several recent analyst reports. Weiss Ratings upgraded Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, February 19th. Zacks Research cut Innospec from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce".

Innospec Profile

Innospec Incorporated NASDAQ: IOSP is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

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