Intech Investment Management LLC Takes Position in Innospec Inc. (NASDAQ:IOSP)

Intech Investment Management LLC acquired a new position in shares of Innospec Inc. (NASDAQ:IOSP) in the second quarter, HoldingsChannel reports. The fund acquired 3,281 shares of the specialty chemicals company’s stock, valued at approximately $405,000.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Innospec during the 4th quarter worth about $25,925,000. UBS Group AG lifted its holdings in Innospec by 204,935.7% during the fourth quarter. UBS Group AG now owns 57,410 shares of the specialty chemicals company’s stock worth $7,075,000 after acquiring an additional 57,382 shares in the last quarter. TFO Wealth Partners LLC grew its stake in Innospec by 29,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 299 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 298 shares during the period. Eagle Asset Management Inc. grew its stake in Innospec by 4.6% in the fourth quarter. Eagle Asset Management Inc. now owns 198,344 shares of the specialty chemicals company’s stock valued at $24,444,000 after acquiring an additional 8,644 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Innospec in the fourth quarter worth about $504,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Innospec Stock Performance

Shares of IOSP opened at $114.09 on Friday. The firm’s 50 day moving average price is $114.25 and its two-hundred day moving average price is $121.37. Innospec Inc. has a twelve month low of $95.69 and a twelve month high of $133.71. The firm has a market cap of $2.84 billion, a P/E ratio of 19.37 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. The firm had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $468.73 million. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The company’s revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. On average, sell-side analysts anticipate that Innospec Inc. will post 5.95 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ian Cleminson sold 6,602 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $113.60, for a total transaction of $749,987.20. Following the completion of the transaction, the chief financial officer now directly owns 16,394 shares in the company, valued at approximately $1,862,358.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.52% of the stock is owned by corporate insiders.

Innospec Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.