Assenagon Asset Management S.A. Has $13.64 Million Position in Innospec Inc. $IOSP

Assenagon Asset Management S.A. lifted its stake in Innospec Inc. (NASDAQ:IOSP) by 37.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 178,204 shares of the specialty chemicals company’s stock after buying an additional 48,807 shares during the period. Assenagon Asset Management S.A.’s holdings in Innospec were worth $13,640,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Innospec by 31.0% during the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 139 shares during the period. Nisa Investment Advisors LLC grew its position in Innospec by 8.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,917 shares of the specialty chemicals company’s stock valued at $148,000 after acquiring an additional 155 shares during the period. State of Wyoming grew its position in Innospec by 27.5% in the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after acquiring an additional 173 shares during the period. California State Teachers Retirement System raised its stake in Innospec by 0.8% during the second quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock worth $1,939,000 after acquiring an additional 179 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Innospec by 0.7% during the third quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company’s stock worth $2,150,000 after acquiring an additional 196 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Innospec Stock Performance

Shares of IOSP opened at $72.37 on Friday. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.86 and a beta of 0.90. The stock has a fifty day moving average price of $78.05 and a two-hundred day moving average price of $77.28. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $98.54.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research downgraded shares of Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Weiss Ratings upgraded shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. Finally, Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Innospec currently has a consensus rating of “Reduce”.

Insider Activity at Innospec

In other Innospec news, SVP David B. Jones sold 1,028 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $75.64, for a total transaction of $77,757.92. Following the sale, the senior vice president owned 14,693 shares of the company’s stock, valued at $1,111,378.52. This represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Landless sold 594 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $76.56, for a total transaction of $45,476.64. Following the completion of the sale, the director owned 7,632 shares of the company’s stock, valued at $584,305.92. The trade was a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,989 shares of company stock worth $391,889 in the last 90 days. Corporate insiders own 1.31% of the company’s stock.

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.