Western Standard LLC purchased a new stake in Innospec Inc. (NASDAQ:IOSP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 236,833 shares of the specialty chemicals company's stock, valued at approximately $19,276,000. Innospec comprises approximately 6.5% of Western Standard LLC's holdings, making the stock its 6th largest position. Western Standard LLC owned about 0.96% of Innospec as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CM Management LLC boosted its holdings in Innospec by 66.7% in the fourth quarter. CM Management LLC now owns 20,000 shares of the specialty chemicals company's stock valued at $1,531,000 after acquiring an additional 8,000 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Innospec by 196.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,497 shares of the specialty chemicals company's stock valued at $1,351,000 after purchasing an additional 12,259 shares during the period. First Wilshire Securities Management Inc. raised its holdings in Innospec by 47.2% during the 1st quarter. First Wilshire Securities Management Inc. now owns 148,072 shares of the specialty chemicals company's stock worth $10,812,000 after purchasing an additional 47,498 shares during the last quarter. Medina Value Partners LLC raised its holdings in Innospec by 60.5% during the 4th quarter. Medina Value Partners LLC now owns 378,769 shares of the specialty chemicals company's stock worth $28,991,000 after purchasing an additional 142,813 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Innospec by 139.4% in the 4th quarter. Intech Investment Management LLC now owns 51,556 shares of the specialty chemicals company's stock worth $3,946,000 after purchasing an additional 30,023 shares during the period. Institutional investors and hedge funds own 96.64% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on IOSP shares. Seaport Research Partners reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Innospec in a research note on Thursday, August 6th. Zacks Research raised shares of Innospec from a "strong sell" rating to a "hold" rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of Innospec from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Innospec from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".
Read Our Latest Analysis on IOSP
Innospec Stock Up 0.2%
Shares of IOSP stock opened at $93.76 on Thursday. The firm has a 50 day moving average of $85.70 and a 200-day moving average of $80.47. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 2.48 and a beta of 0.93. Innospec Inc. has a 52 week low of $65.51 and a 52 week high of $95.01.
Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.22. The company had revenue of $491.40 million for the quarter, compared to the consensus estimate of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. Innospec's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. Analysts anticipate that Innospec Inc. will post 5.03 earnings per share for the current year.
Innospec Profile
(
Free Report)
Innospec Incorporated NASDAQ: IOSP is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.
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