Bank of New York Mellon Corp decreased its position in shares of Innospec Inc. (NASDAQ:IOSP) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 338,391 shares of the specialty chemicals company’s stock after selling 16,646 shares during the quarter. Bank of New York Mellon Corp owned about 1.40% of Innospec worth $22,182,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Innospec by 29,556.5% during the first quarter. BlackRock Inc. now owns 2,971,282 shares of the specialty chemicals company’s stock valued at $192,389,000 after acquiring an additional 2,961,263 shares during the period. Vanguard Group Inc. raised its stake in shares of Innospec by 6.1% during the first quarter. Vanguard Group Inc. now owns 2,103,188 shares of the specialty chemicals company’s stock valued at $136,181,000 after purchasing an additional 120,723 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Innospec by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,348,607 shares of the specialty chemicals company’s stock valued at $87,321,000 after purchasing an additional 23,252 shares in the last quarter. State Street Corp raised its stake in shares of Innospec by 8.1% during the first quarter. State Street Corp now owns 569,505 shares of the specialty chemicals company’s stock valued at $36,873,000 after purchasing an additional 42,831 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Innospec by 221.5% during the first quarter. Lazard Asset Management LLC now owns 529,340 shares of the specialty chemicals company’s stock valued at $34,274,000 after purchasing an additional 364,676 shares in the last quarter. 91.70% of the stock is owned by institutional investors.

Shares of Innospec Inc. (NASDAQ IOSP) opened at 57.00 on Friday. Innospec Inc. has a 52 week low of $54.10 and a 52 week high of $74.75. The company has a market capitalization of $1.38 billion, a PE ratio of 18.15 and a beta of 1.18. The company’s 50 day moving average is $57.67 and its 200-day moving average is $62.47.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.08 by $0.08. The company had revenue of $326.30 million for the quarter. Innospec had a return on equity of 14.77% and a net margin of 7.22%. On average, analysts expect that Innospec Inc. will post $4.28 EPS for the current fiscal year.

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A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Innospec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of Innospec from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. ValuEngine cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Monness Crespi & Hardt upgraded shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, August 22nd.

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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