Inspire Investing LLC Increases Stake in Innospec Inc. $IOSP

Inspire Investing LLC lifted its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 27.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,620 shares of the specialty chemicals company’s stock after buying an additional 990 shares during the quarter. Inspire Investing LLC’s holdings in Innospec were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. increased its position in shares of Innospec by 38.3% during the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock valued at $57,000 after buying an additional 186 shares during the period. State of Alaska Department of Revenue increased its position in shares of Innospec by 7.4% during the second quarter. State of Alaska Department of Revenue now owns 14,845 shares of the specialty chemicals company’s stock valued at $1,247,000 after buying an additional 1,024 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Innospec by 15.2% during the second quarter. Public Employees Retirement System of Ohio now owns 14,957 shares of the specialty chemicals company’s stock valued at $1,258,000 after buying an additional 1,976 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Innospec during the second quarter valued at about $1,257,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Innospec during the second quarter valued at about $1,778,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Stock Performance

Shares of NASDAQ IOSP opened at $74.93 on Thursday. The company has a market cap of $1.86 billion, a PE ratio of 96.06 and a beta of 1.04. The firm’s 50 day moving average price is $81.57 and its 200-day moving average price is $84.92. Innospec Inc. has a 52-week low of $73.58 and a 52-week high of $128.35.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data 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. The company had revenue of $439.70 million for the quarter, compared to the consensus estimate of $440.70 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 earnings per share. On average, analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

About Innospec

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.