CenterBook Partners LP Makes New $1.04 Million Investment in Innospec Inc. $IOSP

CenterBook Partners LP purchased a new position in shares of Innospec Inc. (NASDAQ:IOSP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,894 shares of the specialty chemicals company’s stock, valued at approximately $1,038,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. ProShare Advisors LLC boosted its position in shares of Innospec by 46.2% in the 3rd quarter. ProShare Advisors LLC now owns 118,767 shares of the specialty chemicals company’s stock worth $11,321,000 after buying an additional 37,535 shares in the last quarter. Vise Technologies Inc. increased its holdings in Innospec by 85.5% during the 3rd quarter. Vise Technologies Inc. now owns 6,770 shares of the specialty chemicals company’s stock valued at $645,000 after acquiring an additional 3,120 shares in the last quarter. Grandfield & Dodd LLC purchased a new position in Innospec during the 3rd quarter valued at about $229,000. State of Wyoming purchased a new position in Innospec during the 3rd quarter valued at about $46,000. Finally, Choreo LLC acquired a new position in Innospec during the third quarter worth about $234,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Price Performance

IOSP opened at $77.72 on Wednesday. Innospec Inc. has a 12 month low of $65.51 and a 12 month high of $102.00. The business has a 50-day moving average of $94.67 and a two-hundred day moving average of $84.56. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.13 and a beta of 0.88.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The company had revenue of $473.60 million for the quarter, compared to the consensus estimate of $479.17 million. Innospec had a net margin of 7.49% and a return on equity of 9.36%. Innospec’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. Equities research analysts anticipate that Innospec Inc. will post 5.03 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on IOSP shares. Seaport Research Partners reaffirmed a “buy” rating and issued a $110.00 price target on shares of Innospec in a report on Thursday, August 6th. Wall Street Zen cut shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Weiss Ratings cut shares of Innospec from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, November 4th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Innospec presently has a consensus rating of “Hold”.

Innospec Profile

Innospec Inc. is a global specialty chemicals company that develops and manufactures products for customers in the fuels, oilfield and performance chemicals markets. Its Fuel Specialties business supplies additives for fuels and lubricants, while its Oilfield Services business provides chemical products and services used in oil and gas operations. Through its Performance Chemicals business, Innospec makes specialty ingredients for applications including personal care, home care and agriculture. Its products are used by industrial and consumer-products manufacturers around the world.