Capstone Investment Advisors LLC Makes New $813,000 Investment in Innospec Inc. $IOSP

Capstone Investment Advisors LLC bought a new position in Innospec Inc. (NASDAQ:IOSP) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 9,993 shares of the specialty chemicals company’s stock, valued at approximately $813,000.

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

Analyst Upgrades and Downgrades

IOSP has been the subject of several recent analyst reports. Wall Street Zen raised Innospec from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded Innospec from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, Seaport Research Partners reissued a “buy” rating and issued a $110.00 price objective on shares of Innospec in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Innospec Stock Performance

IOSP opened at $95.38 on Friday. Innospec Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $96.68. The firm has a 50-day moving average of $87.14 and a 200 day moving average of $80.99. The firm has a market cap of $2.35 billion, a P/E ratio of 19.47, a PEG ratio of 2.53 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.22. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The company had revenue of $491.40 million during the quarter, compared to analyst estimates of $457.25 million. During the same quarter last year, the business posted $1.26 EPS. Innospec’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts predict that Innospec Inc. will post 5.03 earnings per share for the current fiscal year.

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.