Public Sector Pension Investment Board Purchases 11,907 Shares of Innospec Inc. $IOSP

Public Sector Pension Investment Board increased its position in Innospec Inc. (NASDAQ:IOSP) by 14.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,866 shares of the specialty chemicals company’s stock after acquiring an additional 11,907 shares during the quarter. Public Sector Pension Investment Board owned about 0.39% of Innospec worth $7,474,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Innospec in the second quarter worth about $28,000. EverSource Wealth Advisors LLC increased its position in Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 487 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Innospec by 378.1% during the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 431 shares during the last quarter. State of Wyoming lifted its holdings in shares of Innospec by 27.5% during the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock worth $67,000 after buying an additional 173 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Innospec by 75.4% in the third quarter. Smartleaf Asset Management LLC now owns 1,317 shares of the specialty chemicals company’s stock valued at $101,000 after acquiring an additional 566 shares during the period. 96.64% of the stock is currently owned by institutional investors.

Innospec Price Performance

Shares of NASDAQ:IOSP opened at $86.14 on Wednesday. The business’s fifty day moving average price is $80.86 and its two-hundred day moving average price is $79.22. Innospec Inc. has a fifty-two week low of $70.10 and a fifty-two week high of $110.29. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -2,871.33 and a beta of 0.91.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.24. The company had revenue of $455.60 million during the quarter, compared to analysts’ expectations of $460.87 million. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%. Innospec’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. Research analysts expect that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IOSP. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Innospec in a research report on Monday, December 22nd. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Innospec Profile

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.