Hudson Edge Investment Partners Inc. Trims Holdings in Innospec Inc. $IOSP

Hudson Edge Investment Partners Inc. reduced its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,525 shares of the specialty chemicals company’s stock after selling 298 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Innospec were worth $381,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IOSP. Tsfg LLC acquired a new position in Innospec in the first quarter worth $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Innospec in the first quarter worth $121,000. Banque Transatlantique SA acquired a new position in Innospec in the first quarter worth $196,000. Baird Financial Group Inc. boosted its holdings in Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 223 shares during the period. Finally, DRW Securities LLC acquired a new position in Innospec in the first quarter worth $221,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Price Performance

Shares of NASDAQ IOSP opened at $78.61 on Friday. Innospec Inc. has a 1-year low of $74.10 and a 1-year high of $128.35. The business’s fifty day moving average price is $82.35 and its two-hundred day moving average price is $86.23. The firm has a market capitalization of $1.95 billion, a PE ratio of 100.78 and a beta of 1.04.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The firm had revenue of $439.70 million for the quarter, compared to analyst estimates of $440.70 million. During the same period last year, the company earned $1.39 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts expect that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Innospec from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

About Innospec

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.