WBI Investments Inc. Has $2.88 Million Stake in Innospec Inc. (NASDAQ:IOSP)
WBI Investments Inc. trimmed its holdings in Innospec Inc. (NASDAQ:IOSP) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,678 shares of the specialty chemicals company’s stock after selling 1,460 shares during the period. WBI Investments Inc. owned about 0.15% of Innospec worth $2,884,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Ramsey Quantitative Systems purchased a new position in Innospec in the second quarter worth $343,000. Dean Investment Associates LLC bought a new position in shares of Innospec during the first quarter valued at about $6,159,000. Dimensional Fund Advisors LP raised its stake in shares of Innospec by 6.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,490,072 shares of the specialty chemicals company’s stock valued at $102,219,000 after acquiring an additional 86,504 shares during the last quarter. Strs Ohio raised its stake in shares of Innospec by 10.0% during the second quarter. Strs Ohio now owns 8,800 shares of the specialty chemicals company’s stock valued at $673,000 after acquiring an additional 800 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Innospec during the first quarter valued at about $261,000. 93.18% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ IOSP traded up $0.80 on Friday, reaching $76.95. 99,265 shares of the company’s stock traded hands, compared to its average volume of 63,987. Innospec Inc. has a 12 month low of $56.15 and a 12 month high of $83.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.34 and a current ratio of 2.28. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 16.51 and a beta of 1.00.
Several equities analysts have recently commented on IOSP shares. BidaskClub downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research note on Saturday, August 4th. Zacks Investment Research downgraded shares of Innospec from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, KeyCorp increased their price target on shares of Innospec from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $85.50.
Innospec Company 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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