Innospec Inc. (IOSP): Hedge Funds Remain Overweight

Due to the fact that Innospec Inc. (NASDAQ:IOSP) has weathered a decline in interest from the smart money, it’s safe to say that there exists a select few hedge funds that elected to cut their full holdings heading into fourth quarter. Interestingly, Clint Carlson’s Carlson Capital said goodbye to the largest investment of all the hedgies tracked by Insider Monkey, valued at about $7.9 million in stock, and Paul Marshall and Ian Wace’s Marshall Wace LLP was right behind this move, as the fund said goodbye to about $0.7 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to Innospec Inc. (NASDAQ:IOSP). These stocks are NuStar GP Holdings, LLC (NYSE:NSH), Nuveen Credit Strategies Income Fund (NYSE:JQC), HFF, Inc. (NYSE:HF), and Opus Bank (NASDAQ:OPB). This group of stocks’ market valuations resemble IOSP’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NSH 4 6488 -2
JQC 7 12282 1
HF 10 24228 0
OPB 10 263294 -3

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $77 million. That figure was $141 million in IOSP’s case. HFF, Inc. (NYSE:HF) is the most popular stock in this table. On the other hand NuStar GP Holdings, LLC (NYSE:NSH) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Innospec Inc. (NASDAQ:IOSP) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None