Emerald Advisers Inc. PA lowered its holdings in Innospec Inc. (NASDAQ:IOSP) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,694 shares of the specialty chemicals company’s stock after selling 4,857 shares during the period. Emerald Advisers Inc. PA owned about 0.92% of Innospec worth $17,322,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. UBS Group AG lifted its stake in Innospec by 69.3% in the first quarter. UBS Group AG now owns 2,771 shares of the specialty chemicals company’s stock valued at $190,000 after acquiring an additional 1,134 shares during the last quarter. Legal & General Group Plc lifted its stake in Innospec by 2.7% in the first quarter. Legal & General Group Plc now owns 49,645 shares of the specialty chemicals company’s stock valued at $3,399,000 after acquiring an additional 1,312 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Innospec by 61.3% in the second quarter. Xact Kapitalforvaltning AB now owns 6,051 shares of the specialty chemicals company’s stock valued at $463,000 after acquiring an additional 2,300 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in Innospec in the second quarter valued at $210,000. Finally, Capital One National Association acquired a new stake in Innospec in the second quarter valued at $297,000. 93.00% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on IOSP. ValuEngine cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Zacks Investment Research upgraded shares of Innospec from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. BidaskClub cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Saturday, August 4th. Finally, KeyCorp increased their price target on shares of Innospec from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, July 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $85.50.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.05). The firm had revenue of $358.10 million during the quarter. Innospec had a net margin of 4.45% and a return on equity of 13.83%. As a group, equities research analysts predict that Innospec Inc. will post 4.35 earnings per share for the current fiscal year.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.
Further Reading: Initial Public Offering (IPO)
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