Stonegate Investment Group LLC Has $250,000 Holdings in Innospec Inc. (NASDAQ:IOSP)

Stonegate Investment Group LLC boosted its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 10.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,208 shares of the specialty chemicals company’s stock after purchasing an additional 217 shares during the period. Stonegate Investment Group LLC’s holdings in Innospec were worth $250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 purchasing an additional 161,249 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Innospec by 98.4% in the second quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after buying an additional 59,554 shares during the last quarter. Gendell Jeffrey L bought a new position in Innospec during the first quarter valued at approximately $7,090,000. Cubist Systematic Strategies LLC lifted its stake in Innospec by 117.3% in the second quarter. Cubist Systematic Strategies LLC now owns 81,311 shares of the specialty chemicals company’s stock valued at $10,049,000 after acquiring an additional 43,898 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Innospec in the second quarter worth approximately $4,943,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Insider Transactions at Innospec

In related news, CFO Ian Cleminson sold 3,398 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $114.74, for a total value of $389,886.52. Following the transaction, the chief financial officer now directly owns 12,996 shares in the company, valued at approximately $1,491,161.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.52% of the stock is owned by corporate insiders.

Innospec Price Performance

NASDAQ IOSP opened at $113.31 on Friday. Innospec Inc. has a fifty-two week low of $95.69 and a fifty-two week high of $133.71. The stock’s 50-day moving average is $111.26 and its two-hundred day moving average is $119.95. The firm has a market cap of $2.83 billion, a P/E ratio of 19.24 and a beta of 1.07.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. The business had revenue of $435.00 million for the quarter, compared to the consensus estimate of $468.73 million. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The firm’s revenue was down 9.5% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. On average, equities analysts expect that Innospec Inc. will post 5.95 EPS for the current year.

About Innospec

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.