Public Employees Retirement System of Ohio Reduces Holdings in Innospec Inc. $IOSP

Key Points

• Ohio’s public employees’ retirement system cut its Innospec stake by 96.6% in the first quarter, retaining just 687 shares valued at approximately $50,000. Institutional investors collectively own 96.64% of IOSP.
• Innospec reported quarterly EPS of $1.27, beating estimates of $1.05, while revenue reached $491.4 million and rose 11.8% year over year.
• IOSP recently traded at $91.53, near its 52-week high of $94.17. Analyst sentiment remains “Hold” overall, although Seaport Research Partners maintained a Buy rating with a $110 price target.

Public Employees Retirement System of Ohio lowered its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 96.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 687 shares of the specialty chemicals company's stock after selling 19,449 shares during the period. Public Employees Retirement System of Ohio's holdings in Innospec were worth $50,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State of Wyoming raised its position in shares of Innospec by 27.5% during the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company's stock worth $67,000 after purchasing an additional 173 shares during the last quarter. California State Teachers Retirement System raised its stake in Innospec by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company's stock valued at $1,939,000 after purchasing an additional 179 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Innospec by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company's stock valued at $2,150,000 after purchasing an additional 196 shares in the last quarter. Amundi boosted its stake in shares of Innospec by 5.0% during the 3rd quarter. Amundi now owns 4,490 shares of the specialty chemicals company's stock worth $354,000 after purchasing an additional 214 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Innospec by 3.6% during the fourth quarter. Inspire Investing LLC now owns 6,086 shares of the specialty chemicals company's stock worth $466,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Innospec Stock Down 0.5%

IOSP stock opened at $91.53 on Friday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.47 and a beta of 0.93. The business has a fifty day simple moving average of $83.59 and a 200-day simple moving average of $79.64. Innospec Inc. has a 52 week low of $65.51 and a 52 week high of $94.17.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.22. The firm had revenue of $491.40 million during the quarter, compared to the consensus estimate of $457.25 million. Innospec had a return on equity of 9.22% and a net margin of 6.60%.The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. As a group, analysts expect that Innospec Inc. will post 4.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IOSP has been the topic of several recent analyst reports. Wall Street Zen raised shares of Innospec from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Seaport Research Partners reissued a "buy" rating and set a $110.00 price target on shares of Innospec in a research note on Thursday. Weiss Ratings raised Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 1st. Finally, Zacks Research upgraded Innospec from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

About Innospec

Innospec Incorporated NASDAQ: IOSP is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

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