Credit Suisse AG lessened its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,474 shares of the specialty chemicals company’s stock after selling 642 shares during the quarter. Credit Suisse AG owned approximately 0.09% of Innospec worth $2,325,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in IOSP. Covington Capital Management purchased a new position in Innospec during the 3rd quarter valued at about $25,000. Tower Research Capital LLC TRC grew its stake in Innospec by 63.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 260 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 101 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Innospec during the 4th quarter valued at about $203,000. Virtu Financial LLC purchased a new position in Innospec during the 3rd quarter valued at about $204,000. Finally, Jacobs & Co. CA purchased a new position in Innospec during the 4th quarter valued at about $206,000. 95.01% of the stock is currently owned by institutional investors.
IOSP has been the subject of several research reports. ValuEngine upgraded Innospec from a “sell” rating to a “hold” rating in a report on Monday, March 9th. BidaskClub lowered Innospec from a “hold” rating to a “sell” rating in a report on Tuesday, March 17th.
Shares of Innospec stock opened at $66.88 on Thursday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 14.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.08 and a quick ratio of 1.27. Innospec Inc. has a 52-week low of $56.71 and a 52-week high of $107.85. The stock has a 50-day simple moving average of $86.10 and a 200-day simple moving average of $94.21.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.09. The business had revenue of $390.70 million during the quarter, compared to analyst estimates of $400.45 million. Innospec had a return on equity of 14.69% and a net margin of 7.41%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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