Rhumbline Advisers Has $5.59 Million Stake in Innospec Inc. $IOSP

Rhumbline Advisers lowered its stake in Innospec Inc. (NASDAQ:IOSP) by 11.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 72,488 shares of the specialty chemicals company’s stock after selling 8,993 shares during the quarter. Rhumbline Advisers’ holdings in Innospec were worth $5,593,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Baird Financial Group Inc. raised its stake in shares of Innospec by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock valued at $206,000 after acquiring an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Innospec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock worth $1,405,000 after purchasing an additional 645 shares during the period. Millennium Management LLC grew its holdings in Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after purchasing an additional 168,355 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Innospec by 37.4% in the first quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $433,000 after purchasing an additional 1,243 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Innospec by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after purchasing an additional 8,014 shares during the period. Institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on IOSP shares. Wall Street Zen upgraded shares of Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Zacks Research lowered Innospec from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce”.

Innospec Price Performance

Shares of Innospec stock opened at $78.98 on Tuesday. Innospec Inc. has a 52-week low of $70.10 and a 52-week high of $105.60. The firm has a market capitalization of $1.96 billion, a PE ratio of 16.88 and a beta of 0.91. The company’s fifty day moving average price is $81.17 and its two-hundred day moving average price is $79.30.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $460.87 million. During the same period in the prior year, the firm posted $1.41 EPS. Innospec’s quarterly revenue was down 2.4% compared to the same quarter last year. Analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal 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.