SG Americas Securities LLC Has $5.80 Million Position in Innospec Inc. $IOSP

SG Americas Securities LLC grew its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 291.0% during the 4th quarter, HoldingsChannel reports. The fund owned 75,814 shares of the specialty chemicals company’s stock after acquiring an additional 56,425 shares during the period. SG Americas Securities LLC’s holdings in Innospec were worth $5,803,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IOSP. Versant Capital Management Inc boosted its position in Innospec by 378.1% during the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 431 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 487 shares during the last quarter. Allworth Financial LP increased its position in Innospec by 31.0% in the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 139 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Innospec during the 3rd quarter worth about $46,000. Finally, State of Wyoming raised its stake in shares of Innospec by 27.5% during the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock worth $67,000 after purchasing an additional 173 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on IOSP. Zacks Research cut Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings upgraded shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Innospec currently has a consensus rating of “Reduce”.

Insiders Place Their Bets

In other news, Director Milton C. Blackmore sold 594 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $76.56, for a total value of $45,476.64. Following the sale, the director owned 10,530 shares in the company, valued at approximately $806,176.80. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David B. Jones sold 1,028 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $75.64, for a total transaction 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. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,989 shares of company stock valued at $391,889 over the last ninety days. 1.31% of the stock is owned by insiders.

Innospec Price Performance

Shares of IOSP opened at $73.02 on Wednesday. The company has a market capitalization of $1.82 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.93 and a beta of 0.90. Innospec Inc. has a one year low of $65.51 and a one year high of $96.38. The company’s fifty day moving average price is $77.64 and its 200 day moving average price is $76.96.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.24. The company had revenue of $455.60 million during the quarter, compared to analysts’ expectations of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. Analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current year.

About Innospec

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.