Schroder Investment Management Group lowered its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 97.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the company’s stock after selling 184,600 shares during the period. Schroder Investment Management Group’s holdings in Innospec were worth $184,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. OLD National Bancorp IN raised its stake in shares of Innospec by 6.5% in the first quarter. OLD National Bancorp IN now owns 7,870 shares of the company’s stock worth $341,000 after buying an additional 480 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Innospec by 15,960.5% in the first quarter. Glenmede Trust Co. NA now owns 6,103 shares of the company’s stock worth $264,000 after buying an additional 6,065 shares during the period. Mondrian Investment Partners LTD raised its stake in shares of Innospec by 9,542.7% in the first quarter. Mondrian Investment Partners LTD now owns 80,324 shares of the company’s stock worth $3,483,000 after buying an additional 79,491 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of Innospec during the first quarter worth $217,000. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Innospec by 3.9% in the first quarter. TIAA CREF Investment Management LLC now owns 112,148 shares of the company’s stock worth $4,863,000 after buying an additional 4,223 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.
Shares of Innospec Inc. (NASDAQ:IOSP) traded down 0.92% on Wednesday, hitting $59.05. The stock had a trading volume of 22,934 shares. The firm’s 50-day moving average is $59.25 and its 200 day moving average is $50.56. The stock has a market cap of $1.42 billion, a P/E ratio of 12.58 and a beta of 1.49. Innospec Inc. has a 1-year low of $41.61 and a 1-year high of $61.00.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. Innospec had a return on equity of 17.55% and a net margin of 12.22%. The company earned $228 million during the quarter, compared to analysts’ expectations of $230.30 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities analysts forecast that Innospec Inc. will post $3.66 EPS for the current year.
IOSP has been the subject of a number of recent analyst reports. CJS Securities upgraded Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a research note on Friday, August 5th. Zacks Investment Research upgraded Innospec from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Saturday, August 6th. Finally, Monness Crespi & Hardt upgraded Innospec from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Thursday, August 4th.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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