Arrowstreet Capital Limited Partnership Boosts Holdings in Innospec Inc. $IOSP

Key Points

• Arrowstreet Capital increased its Innospec stake by 196.5% in the first quarter, bringing its holdings to 18,497 shares valued at approximately $1.35 million. Institutional investors collectively own 96.64% of IOSP.
• Innospec reported quarterly earnings of $1.27 per share, exceeding estimates of $1.05, while revenue rose 11.8% year over year to $491.4 million.
• IOSP shares recently traded up 6.1% to $91.96, near their 12-month high of $93.34. Analyst sentiment remains broadly neutral, with the stock carrying a consensus “Hold” rating despite one recent upgrade to “Buy.”

Arrowstreet Capital Limited Partnership lifted its holdings in Innospec Inc. (NASDAQ:IOSP - Free Report) by 196.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,497 shares of the specialty chemicals company's stock after purchasing an additional 12,259 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.08% of Innospec worth $1,351,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IOSP. CM Management LLC boosted its position in shares of Innospec by 66.7% during the 4th quarter. CM Management LLC now owns 20,000 shares of the specialty chemicals company's stock worth $1,531,000 after acquiring an additional 8,000 shares in the last quarter. Western Standard LLC raised its position in shares of Innospec by 894.0% during the 4th quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company's stock worth $20,541,000 after acquiring an additional 241,367 shares in the last quarter. ZWJ Investment Counsel Inc. raised its position in shares of Innospec by 110.9% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 94,535 shares of the specialty chemicals company's stock worth $7,236,000 after acquiring an additional 49,705 shares in the last quarter. First Wilshire Securities Management Inc. raised its position in shares of Innospec by 47.2% during the 1st quarter. First Wilshire Securities Management Inc. now owns 148,072 shares of the specialty chemicals company's stock worth $10,812,000 after acquiring an additional 47,498 shares in the last quarter. Finally, Medina Value Partners LLC lifted its stake in Innospec by 60.5% during the fourth quarter. Medina Value Partners LLC now owns 378,769 shares of the specialty chemicals company's stock worth $28,991,000 after purchasing an additional 142,813 shares during the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Trading Up 6.1%

IOSP stock opened at $91.96 on Thursday. The company has a market capitalization of $2.26 billion, a P/E ratio of 18.77, a PEG ratio of 2.39 and a beta of 0.93. The business has a 50 day simple moving average of $83.41 and a 200-day simple moving average of $79.56. Innospec Inc. has a twelve month low of $65.51 and a twelve month high of $93.34.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.22. Innospec had a net margin of 6.60% and a return on equity of 9.25%. The business had revenue of $491.40 million during the quarter, compared to the consensus estimate of $457.25 million. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The business's quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts predict that Innospec Inc. will post 4.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on IOSP shares. Weiss Ratings upgraded shares of Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 1st. Zacks Research upgraded shares of Innospec from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Innospec from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Innospec presently has an average rating of "Hold".

Innospec Company Profile

Innospec Incorporated NASDAQ: IOSP is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

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