Assetmark Inc Lowers stake in Innospec (IOSP)

Innospec (IOSP) : Assetmark Inc reduced its stake in Innospec by 1.23% during the most recent quarter end. The investment management company now holds a total of 121,973 shares of Innospec which is valued at $7,250,075 after selling 1,525 shares in Innospec , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Innospec makes up approximately 0.12% of Assetmark Inc’s portfolio.

Other Hedge Funds, Including , Los Angeles Capital Management Equity Research Inc added IOSP to its portfolio by purchasing 21,920 company shares during the most recent quarter which is valued at $1,302,925. Innospec makes up approx 0.01% of Los Angeles Capital Management Equity Research Inc’s portfolio.Gsa Capital Partners Llp boosted its stake in IOSP in the latest quarter, The investment management firm added 16,516 additional shares and now holds a total of 24,524 shares of Innospec which is valued at $1,435,144. Innospec makes up approx 0.07% of Gsa Capital Partners Llp’s portfolio.Chicago Equity Partners boosted its stake in IOSP in the latest quarter, The investment management firm added 9,220 additional shares and now holds a total of 51,035 shares of Innospec which is valued at $2,565,529. Innospec makes up approx 0.07% of Chicago Equity Partners’s portfolio.Eagle Asset Management Inc boosted its stake in IOSP in the latest quarter, The investment management firm added 162,756 additional shares and now holds a total of 214,979 shares of Innospec which is valued at $10,727,452. Innospec makes up approx 0.07% of Eagle Asset Management Inc’s portfolio.

Innospec opened for trading at $59.28 and hit $59.43 on the upside on Monday, eventually ending the session at $59.35, with a gain of 0.71% or 0.42 points. The heightened volatility saw the trading volume jump to 1,13,454 shares. Company has a market cap of $1,423 M.

On the company’s financial health, Innospec reported $1.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.88. The company had revenue of $228.00 million for the quarter, compared to analysts expectations of $230.30 million. The company’s revenue was down -6.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.02 EPS.

Many Wall Street Analysts have commented on Innospec. Monness Crespi & Hardt Upgraded Innospec on Aug 4, 2016 to ” Buy”, Price Target of the shares are set at $60.

Innospec Inc. develops manufactures blends markets and supplies fuel additives oilfield chemicals personal care and fragrance ingredients and other specialty chemicals. The Company’s products are sold primarily to oil and gas exploration and production companies oil refineries personal care and fragrance companies and other chemical and industrial companies. Its fuel additives improve fuel efficiency boost engine performance and reduce harmful emissions. Its oilfield specialties business supplies drilling and production chemicals for exploration and production. Its other specialty chemicals provide technology-based solutions for its customers’ processes or products focused in the Personal Care Polymers and Fragrance Ingredients markets. Its Octane Additives business manufactures products for use in automotive gasoline and provides services in the environmental remediation. The Company has three business segments: Fuel Specialties Performance Chemicals and Octane Additives.

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