Tower Research Capital LLC TRC boosted its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 2,913.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,411 shares of the company’s stock after buying an additional 2,331 shares during the period. Tower Research Capital LLC TRC’s holdings in Innospec were worth $111,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of IOSP. Virginia Retirement Systems ET AL purchased a new stake in shares of Innospec during the second quarter valued at about $1,168,000. PineBridge Investments L.P. increased its stake in shares of Innospec by 3.6% in the second quarter. PineBridge Investments L.P. now owns 3,039 shares of the company’s stock valued at $140,000 after buying an additional 106 shares during the period. Principal Financial Group Inc. increased its stake in shares of Innospec by 2.4% in the second quarter. Principal Financial Group Inc. now owns 174,569 shares of the company’s stock valued at $8,029,000 after buying an additional 4,103 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Innospec by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,286,671 shares of the company’s stock valued at $59,173,000 after buying an additional 48,524 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Innospec by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,385 shares of the company’s stock valued at $156,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.
Innospec Inc. (NASDAQ:IOSP) opened at 61.32 on Friday. The company has a market capitalization of $1.47 billion, a PE ratio of 13.06 and a beta of 1.49. Innospec Inc. has a 12-month low of $41.61 and a 12-month high of $62.33. The firm has a 50-day moving average of $59.71 and a 200 day moving average of $51.88.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.15. The company had revenue of $228 million for the quarter, compared to analysts’ expectations of $230.30 million. Innospec had a net margin of 12.22% and a return on equity of 17.55%. Innospec’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.02 EPS. Analysts forecast that Innospec Inc. will post $3.66 EPS for the current fiscal year.
Several brokerages recently issued reports on IOSP. Zacks Investment Research downgraded shares of Innospec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 5th. CJS Securities upgraded shares of Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 target price for the company in a research note on Friday, August 5th. Finally, Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, August 4th.
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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