Alliancebernstein L.P. decreased its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 47.9% during the first quarter, Holdings Channel reports. The firm owned 33,450 shares of the specialty chemicals company’s stock after selling 30,750 shares during the period. Alliancebernstein L.P.’s holdings in Innospec were worth $2,166,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Innospec during the fourth quarter valued at $26,408,000. Wells Fargo & Company MN raised its position in Innospec by 24.1% in the first quarter. Wells Fargo & Company MN now owns 892,271 shares of the specialty chemicals company’s stock valued at $57,776,000 after buying an additional 173,286 shares during the period. Teachers Advisors LLC raised its position in Innospec by 371.2% in the fourth quarter. Teachers Advisors LLC now owns 193,724 shares of the specialty chemicals company’s stock valued at $13,270,000 after buying an additional 152,609 shares during the period. Emerald Advisers Inc. PA raised its position in Innospec by 40.7% in the first quarter. Emerald Advisers Inc. PA now owns 246,936 shares of the specialty chemicals company’s stock valued at $15,989,000 after buying an additional 71,388 shares during the period. Finally, New Amsterdam Partners LLC NY purchased a new position in Innospec during the first quarter valued at $4,324,000. 90.38% of the stock is owned by hedge funds and other institutional investors.

Innospec Inc. (IOSP) opened at 64.70 on Monday. The stock’s 50 day moving average is $64.75 and its 200 day moving average is $66.08. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 19.85 and a beta of 1.17. Innospec Inc. has a 12-month low of $49.32 and a 12-month high of $74.75.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, May 9th. The specialty chemicals company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.14. Innospec had a return on equity of 14.63% and a net margin of 8.24%. The business had revenue of $294.30 million during the quarter, compared to analysts’ expectations of $287 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company’s quarterly revenue was up 38.8% compared to the same quarter last year. Equities research analysts forecast that Innospec Inc. will post $4.10 EPS for the current fiscal year.

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Several equities analysts have recently weighed in on IOSP shares. Zacks Investment Research raised shares of Innospec from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a report on Tuesday, May 16th. BidaskClub lowered shares of Innospec from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd.

Innospec Company Profile

Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business 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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