ZWJ Investment Counsel Inc. Boosts Stock Position in Innospec Inc. (NASDAQ:IOSP)

ZWJ Investment Counsel Inc. increased its stake in Innospec Inc. (NASDAQ:IOSP) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 43,147 shares of the specialty chemicals company’s stock after buying an additional 1,504 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Innospec were worth $4,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in Innospec by 98.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after buying an additional 59,554 shares during the last quarter. Vanguard Group Inc. raised its position in Innospec by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 2,953,918 shares of the specialty chemicals company’s stock worth $364,041,000 after buying an additional 12,562 shares during the last quarter. BNP Paribas Financial Markets raised its position in Innospec by 33.1% in the 1st quarter. BNP Paribas Financial Markets now owns 25,063 shares of the specialty chemicals company’s stock worth $3,232,000 after buying an additional 6,237 shares during the last quarter. Sei Investments Co. raised its position in Innospec by 4.9% in the 1st quarter. Sei Investments Co. now owns 138,788 shares of the specialty chemicals company’s stock worth $17,895,000 after buying an additional 6,532 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Innospec by 660.1% in the 2nd quarter. SG Americas Securities LLC now owns 9,767 shares of the specialty chemicals company’s stock worth $1,207,000 after buying an additional 8,482 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Innospec from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th.

Innospec Stock Up 1.6 %

NASDAQ IOSP opened at $116.08 on Thursday. Innospec Inc. has a 52 week low of $95.69 and a 52 week high of $133.71. The firm has a market capitalization of $2.89 billion, a P/E ratio of 19.71 and a beta of 1.07. The company has a 50-day moving average price of $110.80 and a 200-day moving average price of $120.14.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.37 by $0.02. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The firm had revenue of $435.00 million during the quarter, compared to analyst estimates of $468.73 million. During the same quarter in the prior year, the firm earned $1.28 EPS. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Innospec Inc. will post 5.95 EPS for the current year.

Insider Activity

In other news, CFO Ian Cleminson sold 3,398 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the sale, the chief financial officer now owns 12,996 shares of the company’s stock, valued at $1,491,161.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.52% of the company’s stock.

Innospec Profile

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.