Walleye Capital LLC Makes New Investment in Innospec Inc. $IOSP

Key Points

• Walleye Capital LLC has made a new investment in Innospec Inc. by acquiring 9,451 shares valued at approximately $895,000 during the first quarter.
• Analyst ratings for Innospec have changed, with Wall Street Zen downgrading the stock from a "buy" to a "hold," although it still maintains an average rating of "Strong Buy."
• Innospec's recent earnings report showed a slight increase in revenue, with reported earnings per share of $1.26, surpassing analysts' expectations of $1.17, despite a decline from last year's EPS of $1.39.

Walleye Capital LLC bought a new position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,451 shares of the specialty chemicals company's stock, valued at approximately $895,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jump Financial LLC boosted its holdings in Innospec by 10.3% during the first quarter. Jump Financial LLC now owns 7,451 shares of the specialty chemicals company's stock worth $706,000 after buying an additional 693 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Innospec by 146.9% during the first quarter. EntryPoint Capital LLC now owns 8,932 shares of the specialty chemicals company's stock worth $846,000 after purchasing an additional 5,314 shares during the period. Hsbc Holdings PLC raised its position in shares of Innospec by 2.9% during the first quarter. Hsbc Holdings PLC now owns 7,398 shares of the specialty chemicals company's stock worth $700,000 after purchasing an additional 208 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Innospec during the first quarter worth about $1,516,000. Finally, American Century Companies Inc. grew its position in shares of Innospec by 27.7% in the 1st quarter. American Century Companies Inc. now owns 47,545 shares of the specialty chemicals company's stock valued at $4,505,000 after purchasing an additional 10,309 shares during the period. Institutional investors own 96.64% of the company's stock.

Analyst Upgrades and Downgrades

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

Innospec Stock Performance

NASDAQ IOSP opened at $87.59 on Friday. The business has a 50 day simple moving average of $84.46 and a 200 day simple moving average of $89.57. Innospec Inc. has a 52-week low of $74.10 and a 52-week high of $128.35. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 112.29 and a beta of 1.07.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The business had revenue of $439.70 million for the quarter, compared to analyst estimates of $440.70 million. During the same quarter last year, the firm earned $1.39 EPS. Innospec's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts predict that Innospec Inc. will post 6.18 EPS 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.

Want to see what other hedge funds are holding IOSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innospec Inc. (NASDAQ:IOSP - Free Report).

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.