CNA Financial Corp lifted its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,829 shares of the specialty chemicals company’s stock after purchasing an additional 598 shares during the period. CNA Financial Corp owned about 0.08% of Innospec worth $1,300,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in IOSP. SG Americas Securities LLC purchased a new stake in shares of Innospec during the second quarter worth about $106,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Innospec during the first quarter worth about $132,000. Victory Capital Management Inc. increased its stake in shares of Innospec by 18.1% during the first quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock worth $150,000 after purchasing an additional 354 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Innospec during the first quarter worth about $240,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Innospec during the first quarter worth about $240,000. 91.70% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on the stock. Zacks Investment Research cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub cut shares of Innospec from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, August 22nd.
Innospec Inc. (NASDAQ:IOSP) traded up 1.16% during mid-day trading on Tuesday, hitting $56.75. 4,103 shares of the stock were exchanged. Innospec Inc. has a one year low of $54.10 and a one year high of $74.75. The company has a 50-day moving average price of $58.56 and a 200-day moving average price of $62.76. The company has a market cap of $1.37 billion, a P/E ratio of 18.07 and a beta of 1.18.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, August 8th. The specialty chemicals company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Innospec had a net margin of 7.22% and a return on equity of 14.77%. The firm had revenue of $326.30 million during the quarter. Analysts forecast that Innospec Inc. will post $4.28 earnings per share for the current fiscal year.
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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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