GSA Capital Partners LLP Buys Shares of 14,271 Innospec Inc. $IOSP

GSA Capital Partners LLP purchased a new position in Innospec Inc. (NASDAQ:IOSP) in the second quarter, HoldingsChannel reports. The institutional investor purchased 14,271 shares of the specialty chemicals company’s stock, valued at approximately $1,162,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IOSP. NewEdge Advisors LLC increased its position in shares of Innospec by 32.5% during the 1st quarter. NewEdge Advisors LLC now owns 8,625 shares of the specialty chemicals company’s stock valued at $630,000 after purchasing an additional 2,114 shares during the last quarter. Amundi boosted its stake in Innospec by 71.0% in the first quarter. Amundi now owns 8,875 shares of the specialty chemicals company’s stock worth $648,000 after buying an additional 3,686 shares in the last quarter. California State Teachers Retirement System boosted its stake in Innospec by 15.7% in the first quarter. California State Teachers Retirement System now owns 27,529 shares of the specialty chemicals company’s stock worth $2,010,000 after buying an additional 3,729 shares in the last quarter. Entropy Technologies LP grew its position in Innospec by 33.3% during the first quarter. Entropy Technologies LP now owns 19,968 shares of the specialty chemicals company’s stock valued at $1,458,000 after acquiring an additional 4,989 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Innospec by 196.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 18,497 shares of the specialty chemicals company’s stock valued at $1,351,000 after acquiring an additional 12,259 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IOSP shares. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Wall Street Zen upgraded shares of Innospec from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Seaport Research Partners reissued a “buy” rating and issued a $110.00 price target on shares of Innospec in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Innospec Stock Performance

NASDAQ:IOSP opened at $93.83 on Tuesday. The firm has a market cap of $2.31 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.49 and a beta of 0.93. Innospec Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $94.67. The business has a 50 day moving average price of $85.27 and a 200-day moving average price of $80.29.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.05 by $0.22. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The company had revenue of $491.40 million for the quarter, compared to the consensus estimate of $457.25 million. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts predict that Innospec Inc. will post 5.03 EPS for the current 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.