Arizona State Retirement System Buys 128 Shares of Innospec Inc. (NASDAQ:IOSP)

Arizona State Retirement System boosted its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,962 shares of the specialty chemicals company’s stock after buying an additional 128 shares during the quarter. Arizona State Retirement System’s holdings in Innospec were worth $860,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IOSP. Norges Bank acquired a new stake in shares of Innospec during the fourth quarter worth $25,925,000. Vanguard Group Inc. grew its holdings in Innospec by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after acquiring an additional 161,249 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Innospec by 98.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after acquiring an additional 59,554 shares in the last quarter. UBS Group AG lifted its stake in shares of Innospec by 204,935.7% in the 4th quarter. UBS Group AG now owns 57,410 shares of the specialty chemicals company’s stock valued at $7,075,000 after purchasing an additional 57,382 shares during the period. Finally, Gendell Jeffrey L bought a new stake in shares of Innospec during the 1st quarter valued at about $7,090,000. Institutional investors own 96.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Innospec Stock Up 2.3 %

Innospec stock opened at $108.96 on Friday. The company has a market capitalization of $2.72 billion, a PE ratio of 18.50 and a beta of 1.08. Innospec Inc. has a 12-month low of $95.69 and a 12-month high of $133.71. The firm’s fifty day moving average is $116.84 and its 200 day moving average is $122.22.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.02. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $468.73 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. The company’s quarterly revenue was down 9.5% on a year-over-year basis. Sell-side analysts expect that Innospec Inc. will post 5.95 EPS for the current fiscal year.

Insider Activity at Innospec

In other news, CFO Ian Cleminson sold 6,602 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $113.60, for a total value of $749,987.20. Following the completion of the sale, the chief financial officer now owns 16,394 shares in the company, valued at $1,862,358.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.52% of the stock is owned by insiders.

Innospec Company 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.