Public Sector Pension Investment Board Acquires 16,993 Shares of Innospec Inc. $IOSP

Key Points

• The Public Sector Pension Investment Board increased its stake in Innospec Inc. by 27.4%, owning approximately 0.31% of the company by the end of the first quarter.
• Innospec has recently received mixed analyst reviews, with Wall Street Zen downgrading the stock from a "buy" to a "hold," while Seaport Res Ptn upgraded it from "hold" to "strong-buy."
• The company's Q2 earnings surpassed analysts' expectations with an EPS of $1.26, although revenue fell slightly short of estimates at $439.70 million.

Public Sector Pension Investment Board lifted its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 27.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,121 shares of the specialty chemicals company's stock after buying an additional 16,993 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.31% of Innospec worth $7,497,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Innospec in the 1st quarter worth approximately $42,966,000. Financial Harvest LLC bought a new stake in Innospec during the first quarter valued at $41,107,000. Brown Advisory Inc. purchased a new position in Innospec during the first quarter worth about $31,212,000. Raymond James Financial Inc. purchased a new position in Innospec during the fourth quarter worth about $20,992,000. Finally, Victory Capital Management Inc. increased its stake in Innospec by 20.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,106,482 shares of the specialty chemicals company's stock worth $104,839,000 after acquiring an additional 184,262 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IOSP has been the subject of a number of research analyst reports. Wall Street Zen downgraded Innospec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Seaport Res Ptn upgraded shares of Innospec from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has an average rating of "Strong Buy".

Innospec Trading Up 0.6%

Shares of NASDAQ:IOSP traded up $0.5350 on Tuesday, reaching $83.8350. 21,312 shares of the company traded hands, compared to its average volume of 203,096. Innospec Inc. has a 52 week low of $74.10 and a 52 week high of $128.35. The business's 50-day simple moving average is $84.27 and its 200 day simple moving average is $91.04. The stock has a market capitalization of $2.08 billion, a P/E ratio of 107.48 and a beta of 1.07.

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

About Innospec

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.