Medina Value Partners LLC Makes New Investment in Innospec Inc. $IOSP

Medina Value Partners LLC acquired a new stake in Innospec Inc. (NASDAQ:IOSP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 235,956 shares of the specialty chemicals company’s stock, valued at approximately $18,206,000. Innospec makes up 4.3% of Medina Value Partners LLC’s portfolio, making the stock its 12th biggest position. Medina Value Partners LLC owned about 0.95% of Innospec at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baird Financial Group Inc. increased its stake in Innospec by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 223 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Innospec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock valued at $1,405,000 after purchasing an additional 645 shares in the last quarter. Millennium Management LLC raised its stake in Innospec by 8,176.5% in the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after purchasing an additional 168,355 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Innospec by 37.4% in the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $433,000 after acquiring an additional 1,243 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Innospec by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after buying an additional 8,014 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Price Performance

IOSP stock opened at $68.83 on Friday. The business has a 50 day moving average price of $80.26 and a two-hundred day moving average price of $78.55. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.84 and a beta of 0.90. Innospec Inc. has a twelve month low of $68.67 and a twelve month high of $101.97.

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

Insider Buying and Selling

In related news, Director Larry Padfield sold 1,030 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $81.84, for a total value of $84,295.20. Following the completion of the sale, the director directly owned 8,508 shares in the company, valued at approximately $696,294.72. The trade was a 10.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David B. Jones sold 1,028 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $75.64, for a total value of $77,757.92. Following the sale, the senior vice president directly owned 14,693 shares in the company, valued at approximately $1,111,378.52. This trade represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,989 shares of company stock worth $391,889 over the last three months. Corporate insiders own 1.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on IOSP. Wall Street Zen upgraded shares of Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, February 19th. Finally, Zacks Research downgraded shares of Innospec from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Innospec presently has a consensus rating of “Reduce”.

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.