Innospec Inc. $IOSP Stock Holdings Decreased by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Innospec Inc. by 44.7% during the first quarter, selling 202,282 shares and retaining 249,877 shares worth approximately $23.68 million.
• A recent downgrade by Wall Street Zen changed Innospec's rating from "buy" to "hold," while the overall consensus rating remains a "Strong Buy" based on data from MarketBeat.
• Innospec reported $1.26 EPS for the last quarter, beating estimates but down from $1.39 EPS in the previous year, with a revenue of $439.7 million compared to expectations of $440.7 million.

Invesco Ltd. decreased its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 44.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,877 shares of the specialty chemicals company's stock after selling 202,282 shares during the quarter. Invesco Ltd. owned about 0.99% of Innospec worth $23,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Innospec by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 354,706 shares of the specialty chemicals company's stock valued at $33,608,000 after acquiring an additional 2,129 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Innospec by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 3,210,768 shares of the specialty chemicals company's stock valued at $304,220,000 after acquiring an additional 30,031 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Innospec by 28.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 382,410 shares of the specialty chemicals company's stock valued at $36,233,000 after acquiring an additional 84,314 shares in the last quarter. R Squared Ltd acquired a new position in shares of Innospec during the 1st quarter valued at $262,000. Finally, US Bancorp DE lifted its holdings in shares of Innospec by 4.2% during the 1st quarter. US Bancorp DE now owns 5,082 shares of the specialty chemicals company's stock valued at $482,000 after acquiring an additional 207 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Wall Street Analysts Forecast Growth

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

Innospec Trading Down 0.8%

IOSP stock traded down $0.69 during trading on Tuesday, reaching $85.93. The stock had a trading volume of 171,163 shares, compared to its average volume of 197,170. The firm has a fifty day moving average price of $84.17 and a 200 day moving average price of $90.05. The company has a market capitalization of $2.13 billion, a P/E ratio of 110.17 and a beta of 1.07. Innospec Inc. has a 1-year low of $74.10 and a 1-year high of $128.35.

Innospec (NASDAQ:IOSP - Get Free Report) last released 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 company had revenue of $439.70 million during 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 company's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 EPS. Sell-side analysts predict that Innospec Inc. will post 6.18 EPS for the current year.

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.