Nuveen LLC Makes New Investment in Innospec Inc. $IOSP

Key Points

• Nuveen LLC acquired a new position in Innospec Inc. with an investment of approximately $42.97 million, representing about 1.81% of the company.
• Several institutional investors have increased their stakes in Innospec, with 96.64% of the stock now owned by institutional investors and hedge funds.
• Innospec reported $1.26 EPS for the last quarter, surpassing analyst expectations, but its revenue fell short of estimates at $439.70 million.

Nuveen LLC bought a new stake in Innospec Inc. (NASDAQ:IOSP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 453,465 shares of the specialty chemicals company's stock, valued at approximately $42,966,000. Nuveen LLC owned approximately 1.81% of Innospec as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC raised its stake in Innospec by 5.6% during the fourth quarter. LPL Financial LLC now owns 9,583 shares of the specialty chemicals company's stock worth $1,055,000 after acquiring an additional 506 shares during the period. Wells Fargo & Company MN raised its stake in Innospec by 7.1% during the fourth quarter. Wells Fargo & Company MN now owns 55,702 shares of the specialty chemicals company's stock worth $6,131,000 after acquiring an additional 3,696 shares during the period. Envestnet Asset Management Inc. raised its stake in Innospec by 14.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,554 shares of the specialty chemicals company's stock worth $3,033,000 after acquiring an additional 3,578 shares during the period. Raymond James Financial Inc. acquired a new stake in Innospec during the fourth quarter worth about $20,992,000. Finally, Summit Investment Advisors Inc. raised its stake in Innospec by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,608 shares of the specialty chemicals company's stock worth $287,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 96.64% of the company's stock.

Innospec Stock Up 0.4%

NASDAQ IOSP traded up $0.34 on Thursday, hitting $83.99. The stock had a trading volume of 117,782 shares, compared to its average volume of 204,609. Innospec Inc. has a one year low of $74.10 and a one year high of $128.35. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 107.68 and a beta of 1.07. The company's 50-day moving average is $84.02 and its two-hundred day moving average is $90.75.

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

Wall Street Analyst Weigh In

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