ZWJ Investment Counsel Inc. raised its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,657 shares of the specialty chemicals company’s stock after purchasing an additional 622 shares during the period. ZWJ Investment Counsel Inc. owned 0.22% of Innospec worth $4,987,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Avestar Capital LLC acquired a new position in Innospec during the first quarter valued at approximately $66,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Innospec during the second quarter valued at approximately $108,000. Campbell & CO Investment Adviser LLC acquired a new position in Innospec during the second quarter valued at approximately $201,000. Grandfield & Dodd LLC acquired a new position in Innospec during the first quarter valued at approximately $200,000. Finally, First Citizens Bank & Trust Co. acquired a new position in Innospec during the first quarter valued at approximately $202,000. Institutional investors own 93.29% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut Innospec from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. BidaskClub cut Innospec from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th. Finally, ValuEngine cut Innospec from a “buy” rating to a “hold” rating in a research report on Thursday.
IOSP stock traded down $2.11 during midday trading on Friday, hitting $90.37. The stock had a trading volume of 85,453 shares, compared to its average volume of 90,074. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 18.71 and a beta of 1.29. Innospec Inc. has a 52 week low of $53.07 and a 52 week high of $96.23. The stock’s 50-day simple moving average is $90.67. The company has a quick ratio of 1.45, a current ratio of 2.28 and a debt-to-equity ratio of 0.25.
Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, May 7th. The specialty chemicals company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $388.30 million during the quarter. Innospec had a return on equity of 14.92% and a net margin of 6.08%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.02 earnings per share. Equities analysts forecast that Innospec Inc. will post 5.15 earnings per share for the current fiscal year.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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