Millennium Management LLC Increases Stake in Innospec (IOSP)

Millennium Management LLC lifted its holdings in Innospec (NASDAQ:IOSP) by 65.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 156,638 shares of the specialty chemicals company’s stock after purchasing an additional 61,737 shares during the period. Millennium Management LLC owned about 0.65% of Innospec worth $11,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of Innospec in the 4th quarter worth approximately $142,000. Amalgamated Bank purchased a new stake in shares of Innospec in the 4th quarter worth approximately $245,000. Quadrature Capital Ltd purchased a new stake in shares of Innospec in the 4th quarter worth approximately $258,000. Meadow Creek Investment Management LLC lifted its position in shares of Innospec by 29.1% in the 4th quarter. Meadow Creek Investment Management LLC now owns 3,724 shares of the specialty chemicals company’s stock worth $263,000 after purchasing an additional 840 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Innospec by 130.5% in the 3rd quarter. SG Americas Securities LLC now owns 3,738 shares of the specialty chemicals company’s stock worth $230,000 after purchasing an additional 2,116 shares during the period. 92.47% of the stock is owned by hedge funds and other institutional investors.

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NASDAQ:IOSP opened at $67.90 on Friday. Innospec has a 52 week low of $54.10 and a 52 week high of $74.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.15 and a quick ratio of 1.34. The company has a market cap of $1,720.66, a P/E ratio of 14.57 and a beta of 1.03.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, February 13th. The specialty chemicals company reported $1.47 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.34. Innospec had a net margin of 4.73% and a return on equity of 15.57%. The company had revenue of $353.80 million during the quarter. equities analysts anticipate that Innospec will post 4.3 EPS for the current fiscal year.

In other Innospec news, CFO Ian Cleminson sold 2,261 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $68.55, for a total transaction of $154,991.55. Following the transaction, the chief financial officer now owns 26,685 shares in the company, valued at approximately $1,829,256.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Philip John Boon sold 3,558 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $69.69, for a total transaction of $247,957.02. Following the transaction, the vice president now owns 31,000 shares in the company, valued at approximately $2,160,390. The disclosure for this sale can be found here. Insiders have sold 12,112 shares of company stock valued at $832,724 in the last three months. 2.02% of the stock is currently owned by corporate insiders.

IOSP has been the subject of several research reports. BidaskClub cut shares of Innospec from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Zacks Investment Research cut shares of Innospec from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, ValuEngine raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $70.50.

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Innospec Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.

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Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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