Susquehanna International Group LLP Sells 6,877 Shares of Innospec Inc. $IOSP

Susquehanna International Group LLP lessened its stake in Innospec Inc. (NASDAQ:IOSP) by 65.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,615 shares of the specialty chemicals company’s stock after selling 6,877 shares during the quarter. Susquehanna International Group LLP’s holdings in Innospec were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new stake in Innospec during the 2nd quarter worth approximately $36,000. Hantz Financial Services Inc. lifted its holdings in shares of Innospec by 271.0% during the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 420 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 487 shares during the period. Danske Bank A S bought a new stake in shares of Innospec in the third quarter valued at about $46,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Innospec by 316.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock valued at $51,000 after acquiring an additional 503 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Trading Down 1.3%

Shares of NASDAQ:IOSP opened at $92.61 on Wednesday. The stock’s fifty day simple moving average is $87.58 and its two-hundred day simple moving average is $81.02. Innospec Inc. has a 1-year low of $65.51 and a 1-year high of $96.68. The stock has a market cap of $2.28 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 2.49 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.22. The firm had revenue of $491.40 million during the quarter, compared to analyst estimates of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. On average, sell-side analysts forecast that Innospec Inc. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on IOSP shares. Seaport Research Partners reiterated a “buy” rating and issued a $110.00 price objective on shares of Innospec in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About Innospec

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.