Wedbush Securities Inc. lowered its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,807 shares of the specialty chemicals company’s stock after selling 390 shares during the period. Wedbush Securities Inc.’s holdings in Innospec were worth $250,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of IOSP. JPMorgan Chase & Co. raised its holdings in shares of Innospec by 45.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 57,097 shares of the specialty chemicals company’s stock valued at $5,037,000 after purchasing an additional 17,924 shares in the last quarter. HM Payson & Co. bought a new position in shares of Innospec during the 2nd quarter valued at $83,000. HGK Asset Management Inc. raised its holdings in shares of Innospec by 13.0% during the 2nd quarter. HGK Asset Management Inc. now owns 5,568 shares of the specialty chemicals company’s stock valued at $508,000 after purchasing an additional 639 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Innospec by 103.1% during the 2nd quarter. Janus Henderson Group PLC now owns 420,997 shares of the specialty chemicals company’s stock valued at $38,412,000 after purchasing an additional 213,673 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of Innospec during the 2nd quarter valued at $140,000. 93.29% of the stock is owned by institutional investors.
IOSP traded down $1.09 during trading on Thursday, hitting $90.33. The stock had a trading volume of 1,781 shares, compared to its average volume of 88,887. The firm has a market cap of $2.26 billion, a PE ratio of 18.70 and a beta of 1.29. Innospec Inc. has a 12 month low of $53.07 and a 12 month high of $97.18. The company has a current ratio of 2.14, a quick ratio of 1.32 and a debt-to-equity ratio of 0.19. The company has a 50 day simple moving average of $89.96 and a 200-day simple moving average of $87.30.
A number of research analysts have recently weighed in on IOSP shares. CL King started coverage on shares of Innospec in a report on Wednesday, September 4th. They set a “buy” rating and a $95.00 price target on the stock. ValuEngine downgraded shares of Innospec from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Innospec from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. Finally, BidaskClub downgraded shares of Innospec from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $90.67.
In related news, VP Brian Watt sold 3,000 shares of Innospec stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $84.16, for a total value of $252,480.00. Following the transaction, the vice president now owns 27,888 shares in the company, valued at approximately $2,347,054.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.62% of the company’s stock.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
Read More: Buyback
Want to see what other hedge funds are holding IOSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innospec Inc. (NASDAQ:IOSP).
Receive News & Ratings for Innospec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec and related companies with MarketBeat.com's FREE daily email newsletter.