Semanteon Capital Management LP Purchases Shares of 7,324 Innospec Inc. $IOSP

Semanteon Capital Management LP acquired a new position in Innospec Inc. (NASDAQ:IOSP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,324 shares of the specialty chemicals company’s stock, valued at approximately $565,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IOSP. Geode Capital Management LLC grew its stake in shares of Innospec by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 719,598 shares of the specialty chemicals company’s stock valued at $60,517,000 after purchasing an additional 14,463 shares during the period. Westwood Holdings Group Inc. grew its position in Innospec by 7.8% in the second quarter. Westwood Holdings Group Inc. now owns 412,310 shares of the specialty chemicals company’s stock valued at $34,671,000 after acquiring an additional 29,900 shares during the period. Entropy Technologies LP acquired a new position in Innospec during the second quarter worth $873,000. AlphaQuest LLC lifted its holdings in shares of Innospec by 56.8% during the third quarter. AlphaQuest LLC now owns 45,174 shares of the specialty chemicals company’s stock valued at $3,486,000 after acquiring an additional 16,360 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Innospec in the 2nd quarter valued at $650,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Price Performance

IOSP opened at $81.22 on Friday. The company’s 50 day simple moving average is $81.16 and its 200-day simple moving average is $79.30. Innospec Inc. has a one year low of $70.10 and a one year high of $105.60. The stock has a market capitalization of $2.01 billion, a P/E ratio of 17.35 and a beta of 0.91.

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

Analyst Ratings Changes

IOSP has been the topic of several research analyst reports. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Innospec Company 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.