10,185 Shares in Innospec Inc. $IOSP Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd acquired 10,185 shares of Innospec Inc. valued at approximately $965,000 during the first quarter, highlighting growing interest in the specialty chemicals company.
• Innospec reported a quarterly earnings per share of $1.26, beating the consensus estimate of $1.17, despite a slight year-over-year revenue increase of 1.1% to $439.70 million.
• Analysts have raised Innospec's rating from "hold" to "buy," with a consensus rating of "Strong Buy," indicating positive sentiment towards the stock's future performance.

Dynamic Technology Lab Private Ltd purchased a new stake in Innospec Inc. (NASDAQ:IOSP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,185 shares of the specialty chemicals company's stock, valued at approximately $965,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tsfg LLC purchased a new position in Innospec in the first quarter valued at about $35,000. Caitong International Asset Management Co. Ltd purchased a new position in Innospec in the first quarter valued at about $121,000. Banque Transatlantique SA purchased a new position in Innospec in the first quarter valued at about $196,000. Baird Financial Group Inc. boosted its holdings in Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company's stock valued at $206,000 after purchasing an additional 223 shares during the last quarter. Finally, State of Wyoming boosted its holdings in Innospec by 167.0% in the fourth quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock valued at $217,000 after purchasing an additional 1,236 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Innospec Stock Down 1.1%

NASDAQ:IOSP traded down $0.96 during trading hours on Friday, reaching $82.69. 153,476 shares of the stock were exchanged, compared to its average volume of 156,941. The firm has a 50 day simple moving average of $84.34 and a 200-day simple moving average of $88.13. Innospec Inc. has a 52 week low of $74.10 and a 52 week high of $128.35. The stock has a market capitalization of $2.05 billion, a P/E ratio of 106.01 and a beta of 1.11.

Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The company had revenue of $439.70 million for the quarter, compared to the consensus estimate of $440.70 million. During the same quarter last year, the business posted $1.39 EPS. Innospec's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, analysts expect that Innospec Inc. will post 6.18 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen raised Innospec from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Innospec has an average rating of "Strong Buy".

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.