Wedge Capital Management L L P NC Invests $1.26 Million in Innospec Inc. $IOSP

Key Points

• Wedge Capital Management L L P NC invested approximately $1.26 million in Innospec Inc., acquiring 14,952 shares of the specialty chemicals company in the 2nd quarter.
• Innospec's recent earnings report revealed an EPS of $1.26, surpassing analysts' expectations while the company's revenue showed a slight year-over-year increase of 1.1%.
• Despite a recent downgrade to a "hold" rating by Wall Street Zen, Innospec maintains an average rating of "Strong Buy" according to market data.

Wedge Capital Management L L P NC acquired a new position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 14,952 shares of the specialty chemicals company's stock, valued at approximately $1,257,000. Wedge Capital Management L L P NC owned approximately 0.06% of Innospec as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in IOSP. Quantinno Capital Management LP acquired a new position in shares of Innospec during the 4th quarter worth about $237,000. Two Sigma Advisers LP boosted its position in shares of Innospec by 48.5% during the 4th quarter. Two Sigma Advisers LP now owns 10,100 shares of the specialty chemicals company's stock worth $1,112,000 after acquiring an additional 3,300 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Innospec by 16.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,018 shares of the specialty chemicals company's stock worth $9,797,000 after acquiring an additional 12,825 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Innospec during the 4th quarter worth about $2,931,000. Finally, GAMMA Investing LLC boosted its position in shares of Innospec by 7,113.3% during the 1st quarter. GAMMA Investing LLC now owns 33,542 shares of the specialty chemicals company's stock worth $31,780,000 after acquiring an additional 33,077 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Innospec Stock Down 0.4%

Shares of NASDAQ IOSP opened at $79.21 on Tuesday. The stock has a market cap of $1.97 billion, a PE ratio of 101.55 and a beta of 1.11. Innospec Inc. has a 52-week low of $74.10 and a 52-week high of $128.35. The business has a 50-day moving average price of $83.42 and a 200 day moving average price of $87.21.

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

Analysts Set New Price Targets

Separately, Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company 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.

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