ZWJ Investment Counsel Inc. Has $7.24 Million Stock Position in Innospec Inc. $IOSP

ZWJ Investment Counsel Inc. raised its holdings in Innospec Inc. (NASDAQ:IOSP) by 110.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,535 shares of the specialty chemicals company’s stock after acquiring an additional 49,705 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Innospec were worth $7,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Innospec by 378.1% in the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 431 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 487 shares during the period. Allworth Financial LP grew its position in shares of Innospec by 31.0% in the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 139 shares during the period. Danske Bank A S acquired a new position in shares of Innospec in the 3rd quarter valued at approximately $46,000. Finally, State of Wyoming grew its position in shares of Innospec by 27.5% in the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 173 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Innospec

In related news, Director Larry Padfield sold 1,030 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $81.84, for a total transaction of $84,295.20. Following the completion of the transaction, the director owned 8,508 shares in the company, valued at approximately $696,294.72. This represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Landless sold 594 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $76.56, for a total transaction of $45,476.64. Following the transaction, the director owned 7,632 shares of the company’s stock, valued at $584,305.92. The trade was a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,989 shares of company stock worth $391,889. Company insiders own 1.45% of the company’s stock.

Innospec Stock Down 1.8%

NASDAQ:IOSP opened at $75.22 on Wednesday. Innospec Inc. has a twelve month low of $65.51 and a twelve month high of $95.55. The business has a 50 day moving average price of $76.28 and a two-hundred day moving average price of $76.60. The company has a market cap of $1.87 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. Innospec had a return on equity of 10.18% and a net margin of 6.56%.The firm had revenue of $455.60 million during the quarter, compared to the consensus estimate of $460.87 million. During the same quarter in the prior year, the firm posted $1.41 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

IOSP has been the subject of several research analyst reports. Zacks Research cut shares of Innospec from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Weiss Ratings upgraded shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, February 19th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

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.