Innospec Inc. $IOSP Shares Acquired by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Innospec Inc. by 63.2% during the first quarter, now owning approximately 1.31% of the company worth around $31 million.
• Innospec Inc. reported earnings of $1.26 per share for the most recent quarter, exceeding analysts' expectations of $1.17, although revenues were slightly below forecasts.
• Analyst ratings for Innospec have improved, with Wall Street Zen upgrading shares from a "hold" to a "buy" rating, and the stock currently has an average rating of "Strong Buy."

Voya Investment Management LLC lifted its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 63.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 327,289 shares of the specialty chemicals company's stock after buying an additional 126,750 shares during the quarter. Voya Investment Management LLC owned 1.31% of Innospec worth $31,011,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Tsfg LLC purchased a new stake in shares of Innospec during the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Innospec during the 1st quarter valued at about $121,000. State of Wyoming raised its holdings in shares of Innospec by 167.0% during the 4th quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock valued at $217,000 after buying an additional 1,236 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of Innospec during the 4th quarter valued at about $237,000. Finally, Baird Financial Group Inc. raised its holdings in shares of Innospec by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company's stock valued at $206,000 after buying an additional 223 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Stock Performance

Shares of NASDAQ IOSP traded up $1.78 during trading on Thursday, reaching $82.40. The stock had a trading volume of 39,325 shares, compared to its average volume of 199,154. 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 $2.05 billion, a PE ratio of 105.63 and a beta of 1.11. The firm's 50 day moving average price is $83.90 and its two-hundred day moving average price is $87.77.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Innospec from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock 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.