Wells Fargo & Company MN increased its position in Innospec Inc. (NASDAQ:IOSP) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 946,319 shares of the specialty chemicals company’s stock after purchasing an additional 54,048 shares during the quarter. Wells Fargo & Company MN owned approximately 3.92% of Innospec worth $62,031,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its position in Innospec by 29,556.5% in the first quarter. BlackRock Inc. now owns 2,971,282 shares of the specialty chemicals company’s stock worth $192,389,000 after purchasing an additional 2,961,263 shares during the period. Vanguard Group Inc. lifted its position in Innospec by 6.1% in the first quarter. Vanguard Group Inc. now owns 2,103,188 shares of the specialty chemicals company’s stock worth $136,181,000 after purchasing an additional 120,723 shares during the period. Dimensional Fund Advisors LP lifted its position in Innospec by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,348,607 shares of the specialty chemicals company’s stock worth $87,321,000 after purchasing an additional 23,252 shares during the period. State Street Corp lifted its position in Innospec by 8.1% in the first quarter. State Street Corp now owns 569,505 shares of the specialty chemicals company’s stock worth $36,873,000 after purchasing an additional 42,831 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Innospec by 221.5% in the first quarter. Lazard Asset Management LLC now owns 529,340 shares of the specialty chemicals company’s stock worth $34,274,000 after purchasing an additional 364,676 shares during the period. 91.70% of the stock is owned by hedge funds and other institutional investors.

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Several research analysts recently commented on IOSP shares. BidaskClub cut Innospec from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research cut Innospec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Monness Crespi & Hardt raised Innospec from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, August 22nd. Finally, ValuEngine cut Innospec from a “buy” rating to a “hold” rating in a research report on Monday, August 7th.

Innospec Inc. (IOSP) opened at 57.00 on Friday. The company has a market capitalization of $1.38 billion, a PE ratio of 18.15 and a beta of 1.18. The firm’s 50 day moving average price is $57.67 and its 200-day moving average price is $62.47. Innospec Inc. has a one year low of $54.10 and a one year high of $74.75.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, August 8th. The specialty chemicals company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Innospec had a return on equity of 14.77% and a net margin of 7.22%. The firm had revenue of $326.30 million for the quarter. Equities analysts forecast that Innospec Inc. will post $4.28 earnings per share for the current fiscal year.

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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