Quantbot Technologies LP Sells 14,081 Shares of Innospec Inc. $IOSP

Quantbot Technologies LP lessened its holdings in Innospec Inc. (NASDAQ:IOSP) by 45.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,971 shares of the specialty chemicals company’s stock after selling 14,081 shares during the period. Quantbot Technologies LP owned about 0.07% of Innospec worth $1,309,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of IOSP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Innospec in the 2nd quarter valued at approximately $28,000. Versant Capital Management Inc increased its position in Innospec by 378.1% during the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 431 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 487 shares during the last quarter. State of Wyoming lifted its stake in Innospec by 27.5% in the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 173 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Innospec by 75.4% in the third quarter. Smartleaf Asset Management LLC now owns 1,317 shares of the specialty chemicals company’s stock valued at $101,000 after buying an additional 566 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IOSP. Wall Street Zen upgraded shares of Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Zacks Research cut Innospec from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Finally, Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Insider Activity

In other Innospec news, Director Milton C. Blackmore sold 594 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $76.56, for a total transaction of $45,476.64. Following the sale, the director owned 10,530 shares of the company’s stock, valued at approximately $806,176.80. This represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Landless sold 594 shares of Innospec stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the completion of the transaction, the director directly owned 7,632 shares of the company’s stock, valued at approximately $584,305.92. This trade represents a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,989 shares of company stock worth $391,889. 1.31% of the stock is owned by insiders.

Innospec Price Performance

Innospec stock opened at $74.22 on Friday. The stock’s 50 day moving average is $80.97 and its 200 day moving average is $79.03. Innospec Inc. has a one year low of $70.10 and a one year high of $102.25. The firm has a market cap of $1.84 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.03 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The firm had revenue of $455.60 million for the quarter, compared to the consensus estimate of $460.87 million. During the same quarter in the previous year, the company earned $1.41 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Profile

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.