Innospec Inc. $IOSP Position Increased by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in Innospec Inc. by 9.3%, bringing its total ownership to 77,760 shares valued at approximately $7.37 million.
• Multiple hedge funds, including Vanguard Group and Victory Capital Management, have also increased their holdings in Innospec, reflecting overall strong institutional interest with 96.64% of the stock owned by institutional investors.
• Analysts upgraded Innospec from a "hold" to a "buy" rating, contributing to a positive outlook with a consensus "Strong Buy" rating as per recent evaluations.

Rhumbline Advisers grew its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 9.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,760 shares of the specialty chemicals company's stock after buying an additional 6,602 shares during the period. Rhumbline Advisers owned 0.31% of Innospec worth $7,368,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IOSP. Strs Ohio acquired a new position in shares of Innospec during the 1st quarter valued at $796,000. Intech Investment Management LLC lifted its holdings in shares of Innospec by 30.7% during the 1st quarter. Intech Investment Management LLC now owns 22,023 shares of the specialty chemicals company's stock valued at $2,087,000 after acquiring an additional 5,178 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Innospec by 1,551.5% during the 1st quarter. Jane Street Group LLC now owns 95,243 shares of the specialty chemicals company's stock valued at $9,024,000 after acquiring an additional 89,476 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Innospec by 14.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 101,773 shares of the specialty chemicals company's stock valued at $9,643,000 after acquiring an additional 12,755 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Innospec during the 1st quarter valued at $586,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Innospec from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Buy".

Innospec Trading Up 0.8%

IOSP stock traded up $0.67 during trading on Wednesday, reaching $81.90. The stock had a trading volume of 43,943 shares, compared to its average volume of 199,173. The company has a market capitalization of $2.03 billion, a P/E ratio of 104.99 and a beta of 1.11. The firm has a fifty day moving average price of $84.07 and a 200 day moving average price of $87.81. Innospec Inc. has a 1-year low of $74.10 and a 1-year high of $128.35.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $440.70 million. During the same quarter in the prior year, the business posted $1.39 EPS. The company's revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts predict that Innospec Inc. will post 6.18 EPS for the current 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.