Assenagon Asset Management S.A. Acquires 48,807 Shares of Innospec Inc. $IOSP

Assenagon Asset Management S.A. raised its holdings in Innospec Inc. (NASDAQ:IOSP) by 37.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,204 shares of the specialty chemicals company’s stock after acquiring an additional 48,807 shares during the quarter. Assenagon Asset Management S.A. owned about 0.72% of Innospec worth $13,640,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in shares of Innospec by 378.1% in the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 431 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 487 shares during the last quarter. Allworth Financial LP raised its holdings in Innospec by 31.0% during the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 139 shares in the last quarter. Danske Bank A S bought a new position in Innospec during the third quarter valued at about $46,000. Finally, State of Wyoming lifted its position in shares of Innospec by 27.5% in the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock worth $67,000 after buying an additional 173 shares during the last quarter. 96.64% of the stock is owned by institutional investors.

Innospec Price Performance

IOSP stock opened at $72.37 on Friday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. The company has a 50-day moving average of $78.05 and a two-hundred day moving average of $77.28. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $98.54.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. Innospec had a return on equity of 10.18% and a net margin of 6.56%.The business had revenue of $455.60 million for the quarter, compared to analyst estimates of $460.87 million. During the same period in the previous year, the company posted $1.41 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts expect that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Larry Padfield sold 594 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the completion of the sale, the director directly owned 9,453 shares of the company’s stock, valued at approximately $723,721.68. This represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Milton C. Blackmore sold 594 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $76.56, for a total transaction of $45,476.64. Following the completion of the sale, the director owned 10,530 shares in the company, valued at approximately $806,176.80. The trade was a 5.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 4,989 shares of company stock worth $391,889. Corporate insiders own 1.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

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.