AlphaQuest LLC Boosts Stock Position in Innospec Inc. $IOSP

AlphaQuest LLC raised its position in Innospec Inc. (NASDAQ:IOSP) by 56.8% during the third quarter, Holdings Channel.com reports. The firm owned 45,174 shares of the specialty chemicals company’s stock after buying an additional 16,360 shares during the period. AlphaQuest LLC’s holdings in Innospec were worth $3,486,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IOSP. Millennium Management LLC grew its holdings in shares of Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after buying an additional 168,355 shares in the last quarter. Norges Bank acquired a new stake in Innospec during the second quarter worth approximately $11,230,000. Qube Research & Technologies Ltd boosted its position in Innospec by 72.1% during the second quarter. Qube Research & Technologies Ltd now owns 306,761 shares of the specialty chemicals company’s stock worth $25,796,000 after acquiring an additional 128,544 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Innospec by 512.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 129,397 shares of the specialty chemicals company’s stock worth $9,984,000 after acquiring an additional 108,254 shares during the period. Finally, Brown Advisory Inc. raised its holdings in Innospec by 29.5% in the 2nd quarter. Brown Advisory Inc. now owns 426,544 shares of the specialty chemicals company’s stock valued at $35,868,000 after acquiring an additional 97,129 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Zacks Research raised Innospec from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Innospec in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce”.

Innospec Stock Performance

IOSP opened at $81.41 on Friday. The firm has a 50 day moving average price of $77.82 and a 200 day moving average price of $79.06. The company has a market cap of $2.02 billion, a PE ratio of -2,713.67 and a beta of 0.91. Innospec Inc. has a 1 year low of $70.10 and a 1 year high of $116.95.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%. The company had revenue of $441.90 million during the quarter, compared to the consensus estimate of $443.00 million. During the same period in the previous year, the firm earned $1.35 earnings per share. Innospec’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts predict that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th were issued a $0.87 dividend. This represents a yield of 245.0%. The ex-dividend date was Tuesday, November 18th. Innospec’s dividend payout ratio is currently -5,800.00%.

Insider Buying and Selling

In related news, Director Leslie J. Parrette acquired 340 shares of Innospec stock in a transaction on Friday, November 14th. The shares were bought at an average price of $74.09 per share, for a total transaction of $25,190.60. Following the completion of the purchase, the director directly owned 5,837 shares in the company, valued at $432,463.33. This trade represents a 6.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.31% of the stock is owned by company insiders.

Innospec 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.