Innospec Inc. $IOSP Stock: ZWJ Investment Counsel Inc. Grows Position

ZWJ Investment Counsel Inc. increased its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,933 shares of the specialty chemicals company’s stock after purchasing an additional 6,431 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Innospec were worth $10,955,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Innospec in the second quarter valued at $356,596,000. Dimensional Fund Advisors LP raised its holdings in shares of Innospec by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,242,089 shares of the specialty chemicals company’s stock valued at $90,698,000 after buying an additional 66,967 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Innospec by 175.5% in the first quarter. Assenagon Asset Management S.A. now owns 490,884 shares of the specialty chemicals company’s stock valued at $35,844,000 after buying an additional 312,680 shares during the last quarter. Western Standard LLC purchased a new stake in shares of Innospec in the second quarter valued at about $19,276,000. Finally, Bank of America Corp DE acquired a new stake in shares of Innospec during the second quarter worth about $19,187,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IOSP shares. Weiss Ratings raised Innospec from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Wall Street Zen cut Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $110.00 price objective on shares of Innospec in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Innospec Price Performance

Shares of NASDAQ IOSP opened at $97.10 on Thursday. The stock has a fifty day moving average price of $94.66 and a 200 day moving average price of $85.41. Innospec Inc. has a 1-year low of $65.51 and a 1-year high of $100.48. The company has a market cap of $2.39 billion, a PE ratio of 19.82, a P/E/G ratio of 2.58 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.22. The firm had revenue of $491.40 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $1.26 EPS. Analysts anticipate that Innospec Inc. will post 5.03 earnings per share for the current fiscal year.

Innospec Profile

Innospec Inc (NASDAQ: IOSP) is a global specialty chemicals company that develops, manufactures and supplies products for the energy, transportation, personal care and industrial markets. Its offerings are designed to improve fuel performance, support industrial processes and enhance the properties of a wide range of consumer and commercial products.

The company operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its products include fuel additives, surfactants, specialty polymers and other performance chemicals used in fuel and refinery applications, home and personal care products, agriculture, construction, mining and industrial manufacturing.