Strs Ohio Purchases New Position in Innospec Inc. $IOSP

Key Points

• Strs Ohio has acquired a new stake in Innospec Inc. valued at approximately $796,000, purchasing 8,400 shares of the specialty chemicals company during the first quarter.
• A downgrade from "buy" to "hold" rating was issued for Innospec by Wall Street Zen, while the stock still maintains a consensus rating of "Strong Buy" from analysts.
• Innospec Inc. reported earnings of $1.26 per share for the quarter, exceeding analysts' estimates, although its revenue fell slightly short of expectations at $439.70 million.

Strs Ohio bought a new position in Innospec Inc. (NASDAQ:IOSP - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,400 shares of the specialty chemicals company's stock, valued at approximately $796,000.

Several other hedge funds also recently bought and sold shares of IOSP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Innospec by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,188 shares of the specialty chemicals company's stock worth $1,562,000 after purchasing an additional 537 shares during the period. Quantinno Capital Management LP bought a new stake in shares of Innospec during the fourth quarter worth $237,000. ProShare Advisors LLC increased its position in shares of Innospec by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 7,512 shares of the specialty chemicals company's stock worth $827,000 after acquiring an additional 2,310 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Innospec by 27.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,425 shares of the specialty chemicals company's stock worth $267,000 after acquiring an additional 525 shares in the last quarter. Finally, State of Wyoming increased its position in shares of Innospec by 167.0% during the fourth quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock worth $217,000 after acquiring an additional 1,236 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Stock Down 3.1%

Shares of NASDAQ IOSP traded down $2.54 during mid-day trading on Friday, reaching $79.55. 773,620 shares of the company were exchanged, compared to its average volume of 165,475. The company's 50-day simple moving average is $83.58 and its 200-day simple moving average is $87.45. The stock has a market capitalization of $1.98 billion, a P/E ratio of 101.99 and a beta of 1.11. Innospec Inc. has a twelve month low of $74.10 and a twelve month high of $128.35.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, topping 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 net margin of 1.08% and a return on equity of 10.89%. Innospec's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 EPS. As a group, equities research analysts expect that Innospec Inc. will post 6.18 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Innospec from a "buy" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Innospec has a consensus rating of "Strong 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.