Innospec Inc. (NASDAQ:IOSP) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its holdings in Innospec Inc. (NASDAQ:IOSP) by 13.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,276 shares of the specialty chemicals company’s stock after selling 1,083 shares during the period. Maryland State Retirement & Pension System’s holdings in Innospec were worth $689,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tsfg LLC acquired a new stake in Innospec in the 1st quarter valued at $35,000. State of Wyoming increased its holdings in Innospec by 167.0% in the 4th quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company’s stock valued at $217,000 after purchasing an additional 1,236 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in Innospec in the 4th quarter valued at $237,000. R Squared Ltd acquired a new stake in Innospec in the 1st quarter valued at $262,000. Finally, Point72 Asset Management L.P. increased its holdings in Innospec by 27.6% in the 4th quarter. Point72 Asset Management L.P. now owns 2,425 shares of the specialty chemicals company’s stock valued at $267,000 after purchasing an additional 525 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IOSP shares. Seaport Res Ptn upgraded Innospec from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st. Wall Street Zen cut shares of Innospec from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th.

Innospec Stock Performance

Shares of IOSP stock opened at $85.02 on Thursday. Innospec Inc. has a one year low of $74.10 and a one year high of $128.35. The company’s 50-day simple moving average is $84.46 and its 200-day simple moving average is $92.02. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 109.00 and a beta of 1.07.

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

Innospec Company Profile

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.