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

Public Sector Pension Investment Board lifted its position in shares of Innospec Inc. (NASDAQ:IOSP) by 14.0% in the third quarter, HoldingsChannel reports. The fund owned 96,866 shares of the specialty chemicals company’s stock after buying an additional 11,907 shares during the period. Public Sector Pension Investment Board’s holdings in Innospec were worth $7,474,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Innospec in the second quarter worth about $28,000. Versant Capital Management Inc lifted its position in Innospec by 378.1% during the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 431 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 487 shares during the last quarter. State of Wyoming grew 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 buying an additional 173 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Innospec by 75.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,317 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 566 shares during the period. Institutional investors own 96.64% of the company’s stock.

Innospec Trading Down 0.5%

IOSP stock opened at $86.14 on Wednesday. Innospec Inc. has a 1-year low of $70.10 and a 1-year high of $110.29. The firm has a market cap of $2.13 billion, a PE ratio of -2,871.33 and a beta of 0.91. The business’s 50-day moving average price is $80.86 and its two-hundred day moving average price is $79.22.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.24. The company had revenue of $455.60 million during the quarter, compared to the consensus estimate of $460.87 million. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. On average, analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IOSP has been the topic of several analyst reports. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Innospec in a research report on Monday, December 22nd. Finally, Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

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.