Citigroup Inc. Trims Position in Innospec Inc. (IOSP)
Citigroup Inc. trimmed its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 7.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,484 shares of the specialty chemicals company’s stock after selling 1,852 shares during the period. Citigroup Inc. owned about 0.09% of Innospec worth $1,474,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Innospec in the second quarter worth approximately $106,000. Ameritas Investment Partners Inc. bought a new position in shares of Innospec in the first quarter valued at $132,000. Victory Capital Management Inc. lifted its position in shares of Innospec by 18.1% during the 1st quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock valued at $150,000 after acquiring an additional 354 shares during the last quarter. Pinebridge Investments L.P. lifted its position in shares of Innospec by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock valued at $209,000 after acquiring an additional 41 shares during the last quarter. Finally, Amalgamated Bank lifted its position in shares of Innospec by 1.8% during the 2nd quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.
Several research firms have recently weighed in on IOSP. BidaskClub lowered Innospec from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research cut Innospec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine lowered Innospec from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Monness Crespi & Hardt raised Innospec from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, August 22nd.
Shares of Innospec Inc. (NASDAQ IOSP) opened at 61.65 on Monday. Innospec Inc. has a 12-month low of $54.10 and a 12-month high of $74.75. The firm has a market cap of $1.49 billion, a P/E ratio of 19.63 and a beta of 1.18. The firm’s 50-day moving average price is $57.40 and its 200 day moving average price is $62.28.
Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. The firm had revenue of $326.30 million during the quarter. Innospec had a net margin of 7.22% and a return on equity of 14.77%. On average, equities analysts expect that Innospec Inc. will post $4.28 earnings per share for the current fiscal year.
Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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