Innospec Inc. (NASDAQ:IOSP) Stock Position Boosted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its stake in Innospec Inc. (NASDAQ:IOSPGet Rating) by 205.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,477 shares of the specialty chemicals company’s stock after buying an additional 4,358 shares during the period. Cubist Systematic Strategies LLC’s holdings in Innospec were worth $555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its position in shares of Innospec by 557.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 526 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 446 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Innospec by 74.7% during the 1st quarter. Captrust Financial Advisors now owns 498 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 213 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Innospec during the 1st quarter valued at about $53,000. UBS Group AG boosted its position in shares of Innospec by 71.6% during the 3rd quarter. UBS Group AG now owns 1,009 shares of the specialty chemicals company’s stock valued at $86,000 after purchasing an additional 421 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Innospec in the second quarter worth about $94,000. Institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Friday, March 3rd.

Innospec Price Performance

Shares of IOSP opened at $101.31 on Monday. Innospec Inc. has a one year low of $83.13 and a one year high of $116.00. The company has a 50-day moving average of $109.68 and a two-hundred day moving average of $102.32. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 19.04 and a beta of 1.17.

Innospec (NASDAQ:IOSPGet Rating) last announced its earnings results on Tuesday, February 21st. The specialty chemicals company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.17). The firm had revenue of $510.70 million during the quarter, compared to analyst estimates of $485.73 million. Innospec had a return on equity of 14.14% and a net margin of 6.77%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. Analysts anticipate that Innospec Inc. will post 5.94 earnings per share for the current year.

Insider Transactions at Innospec

In other news, VP Philip John Boon sold 6,491 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $105.62, for a total value of $685,579.42. Following the completion of the sale, the vice president now directly owns 18,748 shares of the company’s stock, valued at $1,980,163.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick Williams sold 9,146 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $111.20, for a total value of $1,017,035.20. Following the completion of the sale, the chief executive officer now directly owns 174,333 shares of the company’s stock, valued at $19,385,829.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Philip John Boon sold 6,491 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $105.62, for a total transaction of $685,579.42. Following the transaction, the vice president now directly owns 18,748 shares in the company, valued at approximately $1,980,163.76. The disclosure for this sale can be found here. Over the last three months, insiders purchased 2,159 shares of company stock valued at $232,629 and sold 51,444 shares valued at $5,586,546. 1.52% of the stock is owned by insiders.

About Innospec

(Get Rating)

Innospec, Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care, and other specialty chemicals. It operates through the following segments: Fuel Specialties, Performance Chemicals and Oilfield Services. The Fuel Specialties segment develops, manufactures, blends, markets, and supplies a range of specialty chemical products used as additives to a range of fuels.

See Also

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Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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