Northern Trust Corp Trims Stake in Innospec Inc. $IOSP

Northern Trust Corp cut its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 318,306 shares of the specialty chemicals company’s stock after selling 9,170 shares during the quarter. Northern Trust Corp owned approximately 1.27% of Innospec worth $30,159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. US Bancorp DE raised its stake in shares of Innospec by 4.2% during the first quarter. US Bancorp DE now owns 5,082 shares of the specialty chemicals company’s stock valued at $482,000 after acquiring an additional 207 shares in the last quarter. Gotham Asset Management LLC raised its stake in shares of Innospec by 4.6% during the fourth quarter. Gotham Asset Management LLC now owns 5,684 shares of the specialty chemicals company’s stock valued at $626,000 after acquiring an additional 252 shares in the last quarter. Tsfg LLC bought a new stake in shares of Innospec during the first quarter valued at approximately $35,000. Ethic Inc. raised its stake in shares of Innospec by 12.0% during the fourth quarter. Ethic Inc. now owns 3,790 shares of the specialty chemicals company’s stock valued at $417,000 after acquiring an additional 406 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Innospec by 27.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,425 shares of the specialty chemicals company’s stock valued at $267,000 after acquiring an additional 525 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Innospec Price Performance

Shares of IOSP stock opened at $87.59 on Friday. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 112.29 and a beta of 1.07. The company’s 50 day moving average is $84.46 and its 200 day moving average is $89.57. Innospec Inc. has a 52-week low of $74.10 and a 52-week high of $128.35.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.09. The company had revenue of $439.70 million for the quarter, compared to analyst estimates of $440.70 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. Innospec’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. Analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

About Innospec

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.