Trexquant Investment LP Makes New Investment in Innospec Inc. (NASDAQ:IOSP)

Trexquant Investment LP purchased a new stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,367 shares of the specialty chemicals company's stock, valued at approximately $2,242,000. Trexquant Investment LP owned approximately 0.08% of Innospec at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in Innospec by 8.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company's stock valued at $206,000 after purchasing an additional 151 shares during the period. HighTower Advisors LLC grew its position in shares of Innospec by 5.2% in the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company's stock valued at $350,000 after buying an additional 154 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Innospec by 1.4% in the fourth quarter. New York State Teachers Retirement System now owns 14,981 shares of the specialty chemicals company's stock valued at $1,649,000 after buying an additional 200 shares during the period. Inspire Advisors LLC raised its position in shares of Innospec by 3.3% during the fourth quarter. Inspire Advisors LLC now owns 6,704 shares of the specialty chemicals company's stock worth $738,000 after acquiring an additional 213 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. raised its position in shares of Innospec by 4.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 4,923 shares of the specialty chemicals company's stock worth $542,000 after acquiring an additional 230 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Innospec from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd.

Insiders Place Their Bets

In other news, Director Milton C. Blackmore sold 652 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $67,351.60. Following the transaction, the director now owns 8,376 shares of the company's stock, valued at $865,240.80. This represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Philip John Boon sold 3,754 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $387,788.20. Following the completion of the sale, the vice president now owns 20,079 shares of the company's stock, valued at approximately $2,074,160.70. This represents a 15.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,696 shares of company stock worth $794,853. 1.52% of the stock is owned by corporate insiders.

Innospec Price Performance

Shares of IOSP traded up $0.95 during trading hours on Friday, hitting $87.47. 145,992 shares of the stock were exchanged, compared to its average volume of 145,261. Innospec Inc. has a fifty-two week low of $80.32 and a fifty-two week high of $133.71. The business has a 50-day moving average of $99.25 and a 200-day moving average of $108.70. The firm has a market capitalization of $2.20 billion, a P/E ratio of 61.60 and a beta of 1.03.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.05. The firm had revenue of $466.80 million during the quarter, compared to the consensus estimate of $447.43 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. As a group, analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec declared that its Board of Directors has authorized a stock buyback plan on Monday, March 10th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

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.