Strs Ohio Purchases New Position in Innospec Inc. $IOSP

Key Points

• Strs Ohio has acquired a new stake in Innospec Inc. valued at approximately $796,000, purchasing 8,400 shares of the specialty chemicals company during the first quarter.
• A downgrade from "buy" to "hold" rating was issued for Innospec by Wall Street Zen, while the stock still maintains a consensus rating of "Strong Buy" from analysts.
• Innospec Inc. reported earnings of $1.26 per share for the quarter, exceeding analysts' estimates, although its revenue fell slightly short of expectations at $439.70 million.

Strs Ohio purchased a new stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,400 shares of the specialty chemicals company's stock, valued at approximately $796,000.

Several other large investors also recently modified their holdings of the stock. Tsfg LLC acquired a new stake in shares of Innospec in the 1st quarter valued at $35,000. Caitong International Asset Management Co. Ltd bought a new position in Innospec during the 1st quarter worth about $121,000. Banque Transatlantique SA bought a new position in Innospec during the 1st quarter worth about $196,000. Baird Financial Group Inc. grew its holdings in shares of Innospec by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company's stock valued at $206,000 after acquiring an additional 223 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of Innospec by 167.0% in the 4th quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock valued at $217,000 after acquiring an additional 1,236 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Strong Buy".

Innospec Price Performance

Shares of Innospec stock traded up $0.80 on Tuesday, reaching $80.01. 14,152 shares of the company traded hands, compared to its average volume of 202,183. Innospec Inc. has a 52 week low of $74.10 and a 52 week high of $128.35. The company has a 50 day moving average of $83.42 and a 200 day moving average of $87.21. The firm has a market capitalization of $1.99 billion, a PE ratio of 102.89 and a beta of 1.11.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $440.70 million. During the same period in the previous year, the business earned $1.39 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current year.

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.