Innospec Inc. (NASDAQ:IOSP) Short Interest Update

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

Innospec Price Performance

Shares of Innospec stock traded down $3.61 on Monday, reaching $108.19. 154,173 shares of the company were exchanged, compared to its average volume of 114,648. Innospec has a 1-year low of $103.65 and a 1-year high of $133.71. The company has a market cap of $2.70 billion, a P/E ratio of 18.88 and a beta of 1.09. The stock’s 50 day moving average price is $111.79 and its 200-day moving average price is $112.74.

Hedge Funds Weigh In On Innospec

A number of institutional investors and hedge funds have recently made changes to their positions in IOSP. Pacer Advisors Inc. acquired a new position in shares of Innospec during the fourth quarter worth about $53,457,000. Raymond James Financial Inc. acquired a new position in Innospec in the fourth quarter valued at approximately $20,992,000. Allspring Global Investments Holdings LLC boosted its holdings in Innospec by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock valued at $272,069,000 after purchasing an additional 105,311 shares in the last quarter. Norges Bank acquired a new position in Innospec in the fourth quarter valued at approximately $11,312,000. Finally, Royce & Associates LP boosted its holdings in Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock valued at $94,468,000 after purchasing an additional 70,902 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.