California Public Employees Retirement System Grows Stake in Innospec Inc. (IOSP)

California Public Employees Retirement System grew its holdings in Innospec Inc. (NASDAQ:IOSP) by 15.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,351 shares of the specialty chemicals company’s stock after purchasing an additional 3,951 shares during the quarter. California Public Employees Retirement System owned approximately 0.12% of Innospec worth $1,809,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IOSP. Schwab Charles Investment Management Inc. grew its position in shares of Innospec by 4.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 147,758 shares of the specialty chemicals company’s stock valued at $9,686,000 after purchasing an additional 6,209 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Innospec in the second quarter valued at approximately $106,000. Victory Capital Management Inc. grew its position in shares of Innospec by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,720 shares of the specialty chemicals company’s stock valued at $178,000 after purchasing an additional 409 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Innospec by 1.9% in the second quarter. Prudential Financial Inc. now owns 45,380 shares of the specialty chemicals company’s stock valued at $2,975,000 after purchasing an additional 840 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Innospec by 3.3% in the second quarter. Swiss National Bank now owns 40,703 shares of the specialty chemicals company’s stock valued at $2,668,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 91.18% of the company’s stock.

Shares of Innospec Inc. (IOSP) opened at $73.10 on Friday. Innospec Inc. has a 1 year low of $54.10 and a 1 year high of $74.75. The stock has a market cap of $1,760.00, a P/E ratio of 20.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.35 and a current ratio of 2.24.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.15. Innospec had a net margin of 7.45% and a return on equity of 15.05%. The firm had revenue of $332.40 million for the quarter, compared to analyst estimates of $309.40 million. During the same quarter last year, the business earned $0.78 earnings per share. Innospec’s revenue was up 61.8% compared to the same quarter last year. analysts forecast that Innospec Inc. will post 4.3 EPS for the current year.

A number of brokerages recently issued reports on IOSP. Zacks Investment Research lowered shares of Innospec from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. ValuEngine upgraded shares of Innospec from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. KeyCorp restated an “overweight” rating on shares of Innospec in a research report on Thursday, November 9th. Monness Crespi & Hardt lowered shares of Innospec from a “buy” rating to a “neutral” rating in a research report on Thursday, November 9th. Finally, Johnson Rice upgraded shares of Innospec from a “hold” rating to an “accumulate” rating in a research report on Tuesday, November 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Innospec presently has a consensus rating of “Hold” and a consensus target price of $70.50.

In other Innospec news, VP Brian Watt sold 440 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $70.17, for a total transaction of $30,874.80. Following the transaction, the vice president now owns 30,730 shares of the company’s stock, valued at $2,156,324.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ian Cleminson sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $71.67, for a total transaction of $358,350.00. Following the transaction, the chief financial officer now directly owns 22,997 shares in the company, valued at approximately $1,648,194.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,366 shares of company stock worth $1,743,891. 2.02% of the stock is owned by company insiders.

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Innospec Company Profile

Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.

Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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