Nuveen LLC Acquires New Holdings 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 purchased a new position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 453,465 shares of the specialty chemicals company's stock, valued at approximately $42,966,000. Nuveen LLC owned about 1.81% of Innospec as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Summit Investment Advisors Inc. grew its position in Innospec by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,608 shares of the specialty chemicals company's stock valued at $287,000 after buying an additional 118 shares in the last quarter. US Bancorp DE boosted its position 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 purchasing an additional 207 shares in the last quarter. Gotham Asset Management LLC boosted its position in shares of Innospec by 4.6% during the 4th quarter. Gotham Asset Management LLC now owns 5,684 shares of the specialty chemicals company's stock valued at $626,000 after purchasing an additional 252 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Innospec by 11.5% during the 4th quarter. Guggenheim Capital LLC now owns 2,729 shares of the specialty chemicals company's stock valued at $300,000 after purchasing an additional 281 shares in the last quarter. Finally, Tsfg LLC bought a new position in shares of Innospec during the 1st quarter valued at about $35,000. Institutional investors own 96.64% of the company's stock.

Innospec Trading Down 0.4%

Shares of IOSP traded down $0.3390 during midday trading on Thursday, hitting $83.3110. The stock had a trading volume of 10,034 shares, compared to its average volume of 202,506. Innospec Inc. has a fifty-two week low of $74.10 and a fifty-two week high of $128.35. The business has a 50-day simple moving average of $84.09 and a two-hundred day simple moving average of $90.94. The firm has a market cap of $2.07 billion, a P/E ratio of 107.31 and a beta of 1.07.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $439.70 million during the quarter, compared to analyst estimates of $440.70 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. On average, analysts expect that Innospec Inc. will post 6.18 earnings per share for the current fiscal 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 report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock presently 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.