First Trust Advisors LP Has $1.42 Million Stake in Innospec Inc. (IOSP)

First Trust Advisors LP lessened its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 55.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,504 shares of the specialty chemicals company’s stock after selling 22,635 shares during the period. First Trust Advisors LP’s holdings in Innospec were worth $1,416,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of IOSP. Wells Fargo & Company MN lifted its holdings in shares of Innospec by 4.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,134,315 shares of the specialty chemicals company’s stock valued at $77,815,000 after purchasing an additional 48,893 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Innospec by 1.6% during the 1st quarter. Rhumbline Advisers now owns 59,547 shares of the specialty chemicals company’s stock valued at $4,085,000 after purchasing an additional 922 shares during the last quarter. Comerica Bank lifted its holdings in shares of Innospec by 3.2% during the 1st quarter. Comerica Bank now owns 25,595 shares of the specialty chemicals company’s stock valued at $1,862,000 after purchasing an additional 791 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Innospec during the 1st quarter valued at $261,000. Finally, Swiss National Bank lifted its holdings in shares of Innospec by 3.4% during the 1st quarter. Swiss National Bank now owns 42,103 shares of the specialty chemicals company’s stock valued at $2,888,000 after purchasing an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

NASDAQ IOSP opened at $76.95 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.34 and a current ratio of 2.28. Innospec Inc. has a 1 year low of $56.15 and a 1 year high of $83.20. The firm has a market capitalization of $1.86 billion, a P/E ratio of 16.51 and a beta of 1.00.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.05). Innospec had a net margin of 4.45% and a return on equity of 13.83%. The firm had revenue of $358.10 million during the quarter. analysts expect that Innospec Inc. will post 4.35 earnings per share for the current fiscal year.

Several analysts have recently commented on IOSP shares. Zacks Investment Research lowered Innospec from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. BidaskClub upgraded Innospec from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. Finally, KeyCorp increased their price objective on Innospec from $80.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Innospec currently has an average rating of “Hold” and a consensus target price of $85.50.

Innospec Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.

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Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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