Strs Ohio Lowers Stake in Innospec Inc. (IOSP)
Strs Ohio lowered its stake in Innospec Inc. (NASDAQ:IOSP) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,400 shares of the company’s stock after selling 500 shares during the period. Strs Ohio’s holdings in Innospec were worth $892,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of IOSP. TIAA CREF Investment Management LLC increased its stake in shares of Innospec by 3.9% in the first quarter. TIAA CREF Investment Management LLC now owns 112,148 shares of the company’s stock worth $4,863,000 after buying an additional 4,223 shares during the period. Hancock Holding Co. increased its stake in shares of Innospec by 15.0% in the first quarter. Hancock Holding Co. now owns 18,400 shares of the company’s stock worth $798,000 after buying an additional 2,400 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Innospec by 104.9% in the second quarter. BNP Paribas Arbitrage SA now owns 7,791 shares of the company’s stock worth $358,000 after buying an additional 3,988 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Innospec during the first quarter worth about $453,000. Finally, Hillcrest Asset Management LLC acquired a new stake in shares of Innospec during the first quarter worth about $5,484,000. Hedge funds and other institutional investors own 88.69% of the company’s stock.
Innospec Inc. (NASDAQ:IOSP) traded down 0.10% on Monday, reaching $61.33. The company had a trading volume of 67,971 shares. The stock’s 50 day moving average price is $59.80 and its 200-day moving average price is $52.25. The stock has a market capitalization of $1.47 billion, a PE ratio of 13.07 and a beta of 1.49. Innospec Inc. has a 12-month low of $41.61 and a 12-month high of $62.33.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.15. Innospec had a net margin of 12.22% and a return on equity of 17.55%. The firm earned $228 million during the quarter, compared to the consensus estimate of $230.30 million. During the same quarter in the previous year, the firm posted $1.02 EPS. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts expect that Innospec Inc. will post $3.66 earnings per share for the current fiscal year.
IOSP has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Innospec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Monness Crespi & Hardt raised Innospec from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Thursday, August 4th. Finally, CJS Securities raised Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 target price on the stock in a research note on Friday, August 5th.
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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