Western Standard LLC Acquires Shares of 236,833 Innospec Inc. $IOSP

Western Standard LLC acquired a new stake in Innospec Inc. (NASDAQ:IOSP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 236,833 shares of the specialty chemicals company’s stock, valued at approximately $19,276,000. Innospec accounts for about 6.5% of Western Standard LLC’s portfolio, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Innospec during the second quarter worth approximately $36,000. Hantz Financial Services Inc. increased its stake in Innospec by 271.0% during the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 420 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 487 shares during the last quarter. Danske Bank A S bought a new position in shares of Innospec in the third quarter valued at $46,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Innospec by 316.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock valued at $51,000 after buying an additional 503 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Innospec Price Performance

NASDAQ IOSP opened at $93.76 on Thursday. Innospec Inc. has a 1 year low of $65.51 and a 1 year high of $95.01. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 2.48 and a beta of 0.93. The company has a fifty day moving average price of $85.70 and a 200-day moving average price of $80.47.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.22. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The company had revenue of $491.40 million for the quarter, compared to analyst estimates of $457.25 million. During the same period last year, the firm earned $1.26 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, research analysts anticipate that Innospec Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IOSP. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Seaport Research Partners reiterated a “buy” rating and set a $110.00 price target on shares of Innospec in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Innospec Profile

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.