Y Intercept Hong Kong Ltd Invests $3.47 Million in Innospec Inc. $IOSP

Y Intercept Hong Kong Ltd purchased a new position in Innospec Inc. (NASDAQ:IOSP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 41,245 shares of the specialty chemicals company’s stock, valued at approximately $3,468,000. Y Intercept Hong Kong Ltd owned about 0.17% of Innospec as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. MQS Management LLC acquired a new position in shares of Innospec in the second quarter worth $363,000. State of New Jersey Common Pension Fund D increased its stake in Innospec by 15.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 21,862 shares of the specialty chemicals company’s stock valued at $1,838,000 after purchasing an additional 2,894 shares during the last quarter. AlphaQuest LLC increased its stake in Innospec by 871.1% in the second quarter. AlphaQuest LLC now owns 28,814 shares of the specialty chemicals company’s stock valued at $2,423,000 after purchasing an additional 25,847 shares during the last quarter. R Squared Ltd increased its stake in Innospec by 99.0% in the second quarter. R Squared Ltd now owns 5,511 shares of the specialty chemicals company’s stock valued at $463,000 after purchasing an additional 2,741 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in Innospec by 2,026.5% in the second quarter. Mutual of America Capital Management LLC now owns 77,255 shares of the specialty chemicals company’s stock valued at $6,496,000 after purchasing an additional 73,622 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Innospec Trading Down 2.4%

IOSP stock opened at $73.48 on Thursday. Innospec Inc. has a 12-month low of $72.74 and a 12-month high of $128.35. The stock has a 50-day moving average price of $80.01 and a two-hundred day moving average price of $83.91. The company has a market cap of $1.82 billion, a PE ratio of 94.21 and a beta of 1.04.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The company had revenue of $439.70 million during the quarter, compared to the consensus estimate of $440.70 million. During the same quarter in the prior year, the business earned $1.39 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. Equities analysts forecast that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on IOSP. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings lowered Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Finally, Wall Street Zen lowered Innospec from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold”.

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.