Innospec Inc. (NASDAQ:IOSP) Sees Large Drop in Short Interest

Innospec Inc. (NASDAQ:IOSP) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 289,000 shares, a drop of 10.8% from the January 15th total of 324,000 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average trading volume of 130,300 shares, the short-interest ratio is presently 2.2 days.

Institutional Trading of Innospec

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in shares of Innospec by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock worth $272,069,000 after purchasing an additional 105,311 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Innospec by 0.6% in the third quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock valued at $204,189,000 after buying an additional 11,231 shares during the period. State Street Corp grew its position in Innospec by 2.1% during the third quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock worth $112,669,000 after buying an additional 20,744 shares in the last quarter. Victory Capital Management Inc. increased its stake in Innospec by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 922,220 shares of the specialty chemicals company’s stock worth $101,500,000 after acquiring an additional 14,188 shares during the period. Finally, Royce & Associates LP increased its position in shares of Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after purchasing an additional 70,902 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Stock Down 3.2 %

Shares of IOSP traded down $3.61 during midday trading on Monday, reaching $108.19. 154,173 shares of the stock were exchanged, compared to its average volume of 114,648. The stock’s 50 day simple moving average is $111.79 and its 200 day simple moving average is $112.74. The company has a market cap of $2.70 billion, a P/E ratio of 18.88 and a beta of 1.09. Innospec has a twelve month low of $103.65 and a twelve month high of $133.71.

Analyst Ratings Changes

Separately, StockNews.com downgraded Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th.

About Innospec

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.