American Century Companies Inc. Has $4.51 Million Stake in Innospec Inc. $IOSP

Key Points

• American Century Companies Inc. increased its stake in Innospec Inc. by 27.7%, owning 47,545 shares worth approximately $4.5 million at the end of the first quarter.
• Innospec recently reported an earnings per share (EPS) of $1.26, beating estimates, while experiencing a revenue increase of 1.1% year-over-year, totaling $439.7 million.
• Analysts have mixed views on Innospec, with the company currently holding an average rating of "Strong Buy", despite a downgrade from "buy" to "hold" by Wall Street Zen earlier this year.

American Century Companies Inc. raised its holdings in Innospec Inc. (NASDAQ:IOSP - Free Report) by 27.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,545 shares of the specialty chemicals company's stock after acquiring an additional 10,309 shares during the quarter. American Century Companies Inc. owned about 0.19% of Innospec worth $4,505,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tsfg LLC bought a new stake in Innospec in the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Innospec during the 1st quarter worth $121,000. State of Wyoming grew its position in shares of 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 in the last quarter. Quantinno Capital Management LP purchased a new position in shares of Innospec during the fourth quarter worth about $237,000. Finally, R Squared Ltd purchased a new position in shares of Innospec during the first quarter worth approximately $262,000. Institutional investors own 96.64% of the company's stock.

Innospec Price Performance

Shares of NASDAQ:IOSP traded down $1.21 during midday trading on Wednesday, hitting $85.88. The company had a trading volume of 57,569 shares, compared to its average volume of 200,416. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 110.15 and a beta of 1.11. The business's 50-day simple moving average is $84.61 and its 200-day simple moving average is $89.25. Innospec Inc. has a twelve month low of $74.10 and a twelve month high of $128.35.

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

Analyst Ratings Changes

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