Origin Asset Management LLP Maintains Holdings in Innospec Inc. (IOSP)
Origin Asset Management LLP maintained its position in shares of Innospec Inc. (NASDAQ:IOSP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,273 shares of the specialty chemicals company’s stock at the close of the second quarter. Origin Asset Management LLP’s holdings in Innospec were worth $346,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in IOSP. SG Americas Securities LLC acquired a new position in Innospec in the 2nd quarter valued at approximately $106,000. Ameritas Investment Partners Inc. acquired a new position in Innospec in the 1st quarter valued at approximately $132,000. Victory Capital Management Inc. increased its stake in Innospec by 18.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock valued at $150,000 after buying an additional 354 shares during the period. Stevens Capital Management LP acquired a new position in Innospec in the 1st quarter valued at approximately $240,000. Finally, Tudor Investment Corp ET AL acquired a new position in Innospec in the 1st quarter valued at approximately $240,000. Hedge funds and other institutional investors own 91.70% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Innospec from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday, August 16th. ValuEngine lowered shares of Innospec from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub lowered shares of Innospec from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Monness Crespi & Hardt upgraded shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, August 22nd.
Innospec Inc. (NASDAQ:IOSP) traded up 0.45% on Thursday, reaching $56.40. 6,679 shares of the company’s stock traded hands. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 17.96 and a beta of 1.18. Innospec Inc. has a 52-week low of $54.10 and a 52-week high of $74.75. The stock’s 50 day moving average is $58.25 and its 200 day moving average is $62.63.
Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Innospec had a net margin of 7.22% and a return on equity of 14.77%. The business had revenue of $326.30 million for the quarter. On average, equities research analysts predict that Innospec Inc. will post $4.28 EPS for the current fiscal year.
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Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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