Innospec Inc. $IOSP Shares Acquired by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC significantly increased its stake in Innospec Inc. by 2,026.5% during the second quarter, acquiring a total of 77,255 shares, valued at approximately $6.5 million.
• Innospec's stock has experienced a year-to-date range between $73.58 and $128.35, and recently opened at $74.39 with a market cap of $1.85 billion.
• Analysts have mixed ratings for Innospec, with one upgrade to a "hold" rating from Zacks and a "moderate buy" average rating from various research analysts.

Mutual of America Capital Management LLC lifted its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 2,026.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,255 shares of the specialty chemicals company's stock after buying an additional 73,622 shares during the period. Mutual of America Capital Management LLC owned approximately 0.31% of Innospec worth $6,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC acquired a new position in shares of Innospec during the first quarter worth approximately $35,000. Blue Trust Inc. boosted its position in shares of Innospec by 38.3% during the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company's stock worth $57,000 after buying an additional 186 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Innospec during the first quarter worth approximately $121,000. Banque Transatlantique SA acquired a new position in shares of Innospec during the first quarter worth approximately $196,000. Finally, Baird Financial Group Inc. lifted its position in Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company's stock worth $206,000 after purchasing an additional 223 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Stock Performance

NASDAQ IOSP opened at $74.39 on Tuesday. The stock has a market capitalization of $1.85 billion, a P/E ratio of 95.37 and a beta of 1.04. Innospec Inc. has a 1 year low of $73.58 and a 1 year high of $128.35. The business's fifty day moving average is $81.18 and its two-hundred day moving average is $84.46.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.09. The company had revenue of $439.70 million for 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 was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. On average, research analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IOSP shares. Wall Street Zen downgraded Innospec from a "buy" rating to a "hold" rating in a research report on Sunday. Zacks Research upgraded Innospec from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. Finally, Weiss Ratings upgraded Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

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.

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