Tieton Capital Management LLC cut its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 90.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,270 shares of the specialty chemicals company’s stock after selling 41,028 shares during the quarter. Innospec comprises 0.3% of Tieton Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Tieton Capital Management LLC’s holdings in Innospec were worth $327,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. UBS Group AG lifted its holdings in shares of Innospec by 69.3% during the first quarter. UBS Group AG now owns 2,771 shares of the specialty chemicals company’s stock worth $190,000 after buying an additional 1,134 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Innospec during the second quarter worth approximately $210,000. Diversified Trust Co acquired a new position in shares of Innospec during the second quarter worth approximately $218,000. Boston Private Wealth LLC bought a new stake in shares of Innospec during the first quarter valued at approximately $220,000. Finally, SG Americas Securities LLC bought a new stake in shares of Innospec during the first quarter valued at approximately $261,000. Institutional investors own 91.52% of the company’s stock.
In other Innospec news, VP Ian Malcolm Mcrobbie sold 5,000 shares of the company’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $76.71, for a total value of $383,550.00. Following the sale, the vice president now directly owns 35,889 shares in the company, valued at $2,753,045.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Milton C. Blackmore sold 444 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $76.83, for a total value of $34,112.52. Following the completion of the sale, the director now owns 6,444 shares in the company, valued at $495,092.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,841 shares of company stock worth $1,062,397. 2.22% of the stock is currently owned by company insiders.
IOSP has been the topic of a number of research reports. Johnson Rice upgraded Innospec from an “accumulate” rating to a “buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research upgraded Innospec from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Friday, May 18th. ValuEngine cut Innospec from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. BidaskClub cut Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. Finally, KeyCorp boosted their price objective on Innospec from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, July 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Innospec currently has an average rating of “Buy” and an average target price of $78.67.
IOSP opened at $75.95 on Friday. The company has a market cap of $1.83 billion, a PE ratio of 16.30 and a beta of 1.06. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 0.26. Innospec Inc. has a 1 year low of $54.10 and a 1 year high of $83.20.
Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, August 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.05). The firm had revenue of $358.10 million for the quarter. Innospec had a net margin of 4.45% and a return on equity of 13.83%. research analysts predict that Innospec Inc. will post 4.5 earnings per share for the current year.
Innospec Company Profile
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.
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