Mutual of America Capital Management LLC Has $6.50 Million Position in Innospec Inc. $IOSP

Mutual of America Capital Management LLC raised its position in shares of Innospec Inc. (NASDAQ:IOSP) by 2,026.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 77,255 shares of the specialty chemicals company’s stock after acquiring an additional 73,622 shares during the period. Mutual of America Capital Management LLC’s holdings in Innospec were worth $6,496,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tsfg LLC acquired a new stake in Innospec during the 1st quarter valued at $35,000. Blue Trust Inc. increased its stake in shares of Innospec by 38.3% in the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock worth $57,000 after acquiring an additional 186 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Innospec in the first quarter worth $121,000. Baird Financial Group Inc. increased its stake in shares of Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after acquiring an additional 223 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of Innospec in the first quarter worth $196,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Innospec Trading Up 0.4%

Shares of NASDAQ:IOSP opened at $74.39 on Tuesday. The stock has a market capitalization of $1.85 billion, a PE ratio of 95.37 and a beta of 1.04. Innospec Inc. has a 1 year low of $73.58 and a 1 year high of $128.35. The firm has a fifty day moving average price of $81.18 and a 200 day moving average price of $84.46.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.09. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The company had revenue of $439.70 million during the quarter, compared to analysts’ expectations of $440.70 million. During the same period in the prior year, the company earned $1.39 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Innospec has a consensus rating of “Moderate Buy”.

About Innospec

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.