Blue Trust Inc. Buys 186 Shares of Innospec Inc. $IOSP

Blue Trust Inc. lifted its stake in Innospec Inc. (NASDAQ:IOSP) by 38.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 672 shares of the specialty chemicals company’s stock after buying an additional 186 shares during the quarter. Blue Trust Inc.’s holdings in Innospec were worth $57,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Tsfg LLC bought a new position in shares of Innospec in the first quarter worth about $35,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Innospec in the first quarter worth about $121,000. Baird Financial Group Inc. raised its stake in shares of Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 223 shares during the period. Banque Transatlantique SA bought a new position in shares of Innospec in the first quarter worth about $196,000. Finally, DRW Securities LLC bought a new position in shares of Innospec in the first quarter worth about $221,000. Institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

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

Innospec Price Performance

NASDAQ IOSP opened at $74.08 on Friday. The stock has a market capitalization of $1.84 billion, a PE ratio of 94.97 and a beta of 1.04. The business has a 50 day simple moving average of $81.31 and a two-hundred day simple moving average of $84.57. Innospec Inc. has a 1-year low of $73.58 and a 1-year high of $128.35.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.09. The business had revenue of $439.70 million during the quarter, compared to analysts’ expectations of $440.70 million. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. On average, analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec Company 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.