Los Angeles Capital Management LLC Has $1.35 Million Stake in Innospec Inc. (NASDAQ:IOSP)

Los Angeles Capital Management LLC lifted its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 199.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,921 shares of the specialty chemicals company’s stock after buying an additional 7,270 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Innospec were worth $1,350,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IOSP. Norges Bank acquired a new stake in shares of Innospec during the 4th quarter worth approximately $25,925,000. Vanguard Group Inc. grew its position in shares of Innospec by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after buying an additional 161,249 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Innospec by 98.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after buying an additional 59,554 shares during the period. UBS Group AG grew its position in shares of Innospec by 204,935.7% during the 4th quarter. UBS Group AG now owns 57,410 shares of the specialty chemicals company’s stock worth $7,075,000 after buying an additional 57,382 shares during the period. Finally, Gendell Jeffrey L acquired a new stake in shares of Innospec during the 1st quarter worth approximately $7,090,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Price Performance

Innospec stock opened at $106.48 on Thursday. The company’s 50 day simple moving average is $117.72 and its 200 day simple moving average is $122.56. Innospec Inc. has a fifty-two week low of $95.69 and a fifty-two week high of $133.71. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 18.08 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.02. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $468.73 million. During the same quarter last year, the firm earned $1.28 EPS. Innospec’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, analysts predict that Innospec Inc. will post 5.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of Innospec stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $114.74, for a total value of $389,886.52. Following the transaction, the chief financial officer now owns 12,996 shares of the company’s stock, valued at $1,491,161.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Innospec Company 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.