Innospec Inc. $IOSP Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 11.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 72,488 shares of the specialty chemicals company’s stock after selling 8,993 shares during the quarter. Rhumbline Advisers owned about 0.29% of Innospec worth $5,593,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IOSP. Geode Capital Management LLC increased its position in shares of Innospec by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 719,598 shares of the specialty chemicals company’s stock valued at $60,517,000 after purchasing an additional 14,463 shares during the period. Westwood Holdings Group Inc. boosted its stake in Innospec by 7.8% during the second quarter. Westwood Holdings Group Inc. now owns 412,310 shares of the specialty chemicals company’s stock valued at $34,671,000 after buying an additional 29,900 shares in the last quarter. Entropy Technologies LP acquired a new position in Innospec during the second quarter worth about $873,000. AlphaQuest LLC grew its holdings in Innospec by 56.8% during the third quarter. AlphaQuest LLC now owns 45,174 shares of the specialty chemicals company’s stock worth $3,486,000 after acquiring an additional 16,360 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Innospec in the second quarter worth about $650,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Innospec Price Performance

Shares of Innospec stock opened at $78.98 on Tuesday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 16.88 and a beta of 0.91. The stock has a 50-day simple moving average of $81.17 and a 200-day simple moving average of $79.30. Innospec Inc. has a 52-week low of $70.10 and a 52-week high of $105.60.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.24. The firm had revenue of $455.60 million for the quarter, compared to analyst estimates of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. As a group, equities research analysts predict that Innospec Inc. will post 6.18 earnings per share for the current year.

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.