Burney Co. Takes $207,000 Position in Innospec Inc. (IOSP)
Burney Co. acquired a new position in shares of Innospec Inc. (NASDAQ:IOSP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,700 shares of the specialty chemicals company’s stock, valued at approximately $207,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Innospec by 12.6% in the second quarter. FMR LLC now owns 3,570,805 shares of the specialty chemicals company’s stock worth $273,345,000 after acquiring an additional 399,488 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Innospec by 7.7% in the first quarter. BlackRock Inc. now owns 3,726,010 shares of the specialty chemicals company’s stock worth $255,604,000 after acquiring an additional 265,240 shares in the last quarter. Dean Investment Associates LLC acquired a new position in shares of Innospec in the first quarter worth about $6,159,000. Dimensional Fund Advisors LP lifted its stake in shares of Innospec by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,490,072 shares of the specialty chemicals company’s stock worth $102,219,000 after acquiring an additional 86,504 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Innospec by 4.5% in the first quarter. Wells Fargo & Company MN now owns 1,134,315 shares of the specialty chemicals company’s stock worth $77,815,000 after acquiring an additional 48,893 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.
Several research analysts recently commented on IOSP shares. Zacks Investment Research cut Innospec from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. BidaskClub upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. Finally, KeyCorp boosted their price target on Innospec from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, July 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $85.50.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, August 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.05). Innospec had a net margin of 4.45% and a return on equity of 13.83%. The firm had revenue of $358.10 million for the quarter. equities research analysts predict that Innospec Inc. will post 4.35 EPS for the current fiscal year.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.
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