Huber Capital Management LLC Increases Holdings in Innospec Inc. $IOSP

Key Points

• Huber Capital Management LLC increased its stake in Innospec Inc. by 40.3%, acquiring an additional 19,800 shares, and now holds 68,935 shares, representing 1.2% of its investment portfolio.
• Innospec's quarterly earnings surpassed analysts' expectations, reporting earnings per share of $1.26 compared to the estimated $1.17, although revenue of $439.7 million slightly missed expectations.
• Wall Street analysts have a mixed view on Innospec, with one firm lowering its rating from "buy" to "hold," while the stock still maintains an overall "Strong Buy" average rating among analysts.

Huber Capital Management LLC increased its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 40.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,935 shares of the specialty chemicals company's stock after acquiring an additional 19,800 shares during the quarter. Innospec makes up 1.2% of Huber Capital Management LLC's investment portfolio, making the stock its 25th largest position. Huber Capital Management LLC owned approximately 0.27% of Innospec worth $6,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. US Bancorp DE grew its position in shares of Innospec by 4.2% in the 1st quarter. US Bancorp DE now owns 5,082 shares of the specialty chemicals company's stock worth $482,000 after buying an additional 207 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Innospec by 2.9% in the 1st quarter. Hsbc Holdings PLC now owns 7,398 shares of the specialty chemicals company's stock worth $700,000 after buying an additional 208 shares during the last quarter. Gotham Asset Management LLC grew its position in shares of Innospec by 4.6% in the 4th quarter. Gotham Asset Management LLC now owns 5,684 shares of the specialty chemicals company's stock worth $626,000 after buying an additional 252 shares during the last quarter. Tsfg LLC bought a new stake in shares of Innospec in the 1st quarter worth approximately $35,000. Finally, Ethic Inc. grew its position in shares of Innospec by 12.0% in the 4th quarter. Ethic Inc. now owns 3,790 shares of the specialty chemicals company's stock worth $417,000 after buying an additional 406 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Innospec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Innospec presently has a consensus rating of "Strong Buy".

Innospec Price Performance

Shares of IOSP remained flat at $87.59 on Monday. The stock had a trading volume of 124,796 shares, compared to its average volume of 183,353. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 112.29 and a beta of 1.11. The company's 50-day moving average price is $84.46 and its 200-day moving average price is $89.41. Innospec Inc. has a 52 week low of $74.10 and a 52 week high of $128.35.

Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.09. The company had revenue of $439.70 million during the quarter, compared to analysts' expectations of $440.70 million. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. As a group, sell-side analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

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.