Point72 DIFC Ltd acquired a new position in shares of Innospec Inc. (NASDAQ:IOSP – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,486 shares of the specialty chemicals company’s stock, valued at approximately $184,000.
A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Innospec by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after acquiring an additional 161,249 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Innospec by 1.1% during the first quarter. Wasatch Advisors LP now owns 1,972,110 shares of the specialty chemicals company’s stock worth $254,284,000 after purchasing an additional 22,094 shares during the last quarter. Bank of New York Mellon Corp grew its position in Innospec by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 258,294 shares of the specialty chemicals company’s stock valued at $31,923,000 after purchasing an additional 6,148 shares in the last quarter. Norges Bank acquired a new stake in Innospec in the 4th quarter valued at $25,925,000. Finally, Eagle Asset Management Inc. lifted its position in Innospec by 4.6% during the 4th quarter. Eagle Asset Management Inc. now owns 198,344 shares of the specialty chemicals company’s stock worth $24,444,000 after buying an additional 8,644 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.
Innospec Stock Up 0.2 %
NASDAQ:IOSP opened at $114.09 on Friday. Innospec Inc. has a twelve month low of $95.69 and a twelve month high of $133.71. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 19.37 and a beta of 1.08. The stock’s 50 day moving average price is $114.25 and its two-hundred day moving average price is $121.37.
Analysts Set New Price Targets
Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.
Get Our Latest Stock Report on IOSP
Insider Activity
In related news, CFO Ian Cleminson sold 6,602 shares of Innospec stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $113.60, for a total transaction of $749,987.20. Following the completion of the transaction, the chief financial officer now owns 16,394 shares in the company, valued at $1,862,358.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is owned by insiders.
Innospec Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.
See Also
- Five stocks we like better than Innospec
- Consumer Discretionary Stocks Explained
- Can Costco Stock Hit New Highs as Interest Rates Drop?
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- These 3 Stocks Show How to Navigate Declining Consumer Confidence
- How to Capture the Benefits of Dividend Increases
- MicroStrategy’s Returns Are 3X Higher Than Bitcoin: Time to Buy?
Receive News & Ratings for Innospec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec and related companies with MarketBeat.com's FREE daily email newsletter.