BNP Paribas Arbitrage SA raised its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 104.9% during the second quarter, Holdings Channel reports. The firm owned 7,791 shares of the company’s stock after buying an additional 3,988 shares during the period. BNP Paribas Arbitrage SA’s holdings in Innospec were worth $358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. UBS Asset Management Americas Inc. raised its position in shares of Innospec by 9.3% in the first quarter. UBS Asset Management Americas Inc. now owns 12,902 shares of the company’s stock valued at $559,000 after buying an additional 1,103 shares during the period. Zebra Capital Management LLC raised its stake in shares of Innospec by 85.9% in the first quarter. Zebra Capital Management LLC now owns 31,799 shares of the company’s stock worth $1,379,000 after buying an additional 14,693 shares during the last quarter. Menta Capital LLC raised its stake in shares of Innospec by 36.5% in the first quarter. Menta Capital LLC now owns 13,099 shares of the company’s stock worth $568,000 after buying an additional 3,500 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Innospec by 2.6% in the first quarter. Champlain Investment Partners LLC now owns 861,245 shares of the company’s stock worth $37,344,000 after buying an additional 22,035 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Innospec by 6.5% in the first quarter. BlackRock Group LTD now owns 38,238 shares of the company’s stock worth $1,657,000 after buying an additional 2,330 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Innospec Inc. (NASDAQ:IOSP) traded up 1.13% during mid-day trading on Friday, reaching $59.16. The company’s stock had a trading volume of 225,352 shares. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 12.60 and a beta of 1.49. Innospec Inc. has a 52 week low of $41.61 and a 52 week high of $61.00. The company’s 50-day moving average price is $57.55 and its 200 day moving average price is $49.47.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data 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 earned $228 million during the quarter, compared to the consensus estimate of $230.30 million. Innospec had a net margin of 12.22% and a return on equity of 17.55%. Innospec’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 EPS. On average, equities analysts forecast that Innospec Inc. will post $3.66 earnings per share for the current fiscal year.

IOSP has been the subject of a number of research reports. CJS Securities upgraded Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Friday, August 5th. Zacks Investment Research upgraded Innospec from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Saturday, August 6th. Finally, Monness Crespi & Hardt upgraded Innospec from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, August 4th.

About Innospec

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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