Innospec Inc. $IOSP Stock Holdings Boosted by EntryPoint Capital LLC

Key Points

• EntryPoint Capital LLC increased its stake in Innospec Inc. by 146.9% in the first quarter, now owning over 8,900 shares valued at approximately $846,000.
• Innospec's recent quarterly earnings reported $1.26 EPS, surpassing analysts' estimates, with revenue of $439.70 million reflecting a 1.1% year-over-year increase.
• Despite a positive performance, Wall Street analysts recently downgraded Innospec's stock from a "buy" to a "hold" rating, although it still maintains an average rating of "Strong Buy."

EntryPoint Capital LLC increased its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 146.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,932 shares of the specialty chemicals company's stock after buying an additional 5,314 shares during the period. Innospec comprises approximately 0.4% of EntryPoint Capital LLC's portfolio, making the stock its 10th largest position. EntryPoint Capital LLC's holdings in Innospec were worth $846,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IOSP. Envestnet Asset Management Inc. boosted its position in Innospec by 14.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,554 shares of the specialty chemicals company's stock worth $3,033,000 after buying an additional 3,578 shares during the period. Barclays PLC boosted its position in Innospec by 2.5% during the 4th quarter. Barclays PLC now owns 45,660 shares of the specialty chemicals company's stock worth $5,026,000 after buying an additional 1,101 shares during the period. Guggenheim Capital LLC raised its holdings in Innospec by 11.5% during the 4th quarter. Guggenheim Capital LLC now owns 2,729 shares of the specialty chemicals company's stock worth $300,000 after purchasing an additional 281 shares during the last quarter. Jump Financial LLC bought a new position in Innospec during the 4th quarter worth approximately $744,000. Finally, NewEdge Advisors LLC raised its holdings in Innospec by 195.2% during the 4th quarter. NewEdge Advisors LLC now owns 3,324 shares of the specialty chemicals company's stock worth $366,000 after purchasing an additional 2,198 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Trading Up 3.7%

NASDAQ IOSP traded up $3.13 during mid-day trading on Friday, hitting $87.12. The company's stock had a trading volume of 144,472 shares, compared to its average volume of 204,553. The company's 50 day simple moving average is $84.07 and its 200 day simple moving average is $90.56. Innospec Inc. has a twelve month low of $74.10 and a twelve month high of $128.35. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 111.69 and a beta of 1.07.

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

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Strong Buy".

Innospec 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.