Huber Capital Management LLC Has $5.41 Million Stock Holdings in Innospec Inc. (NASDAQ:IOSP)

Huber Capital Management LLC increased its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,135 shares of the specialty chemicals company’s stock after buying an additional 2,900 shares during the period. Huber Capital Management LLC owned 0.20% of Innospec worth $5,408,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Innospec by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock valued at $30,160,000 after purchasing an additional 52,640 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Innospec by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 237,616 shares of the specialty chemicals company’s stock valued at $26,152,000 after buying an additional 2,633 shares during the period. HighTower Advisors LLC raised its position in shares of Innospec by 5.2% during the third quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock worth $350,000 after acquiring an additional 154 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Innospec by 46.1% in the 3rd quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock valued at $3,641,000 after purchasing an additional 10,162 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its stake in shares of Innospec by 63.6% during the third quarter. Sanctuary Advisors LLC now owns 3,152 shares of the specialty chemicals company’s stock worth $377,000 after buying an additional 1,225 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Innospec from a “buy” rating to a “hold” rating in a research note on Wednesday.

Innospec Stock Performance

Shares of NASDAQ IOSP opened at $95.65 on Thursday. Innospec Inc. has a 52-week low of $93.22 and a 52-week high of $133.71. The stock has a market cap of $2.40 billion, a P/E ratio of 67.36 and a beta of 1.08. The firm has a 50 day moving average price of $104.24 and a 200 day moving average price of $110.26.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.05. The company had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. Analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec declared that its board has approved a share buyback program on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the specialty chemicals company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Innospec

In other Innospec news, SVP Corbin Barnes sold 598 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $103.06, for a total value of $61,629.88. Following the sale, the senior vice president now owns 8,051 shares in the company, valued at approximately $829,736.06. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Philip John Boon sold 3,754 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $387,788.20. Following the transaction, the vice president now owns 20,079 shares of the company’s stock, valued at $2,074,160.70. The trade was a 15.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,696 shares of company stock valued at $794,853. Company insiders own 1.52% of the company’s stock.

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.