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

Huber Capital Management LLC increased its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,135 shares of the specialty chemicals company's stock after purchasing 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 institutional investors have also recently added to or reduced their stakes in IOSP. Trexquant Investment LP bought a new stake in shares of Innospec in the 4th quarter worth $2,242,000. Geode Capital Management LLC lifted its holdings in Innospec by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company's stock valued at $76,184,000 after acquiring an additional 14,788 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Innospec by 0.8% in the 4th quarter. Alliancebernstein L.P. now owns 28,353 shares of the specialty chemicals company's stock valued at $3,121,000 after acquiring an additional 230 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Innospec by 22.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,648 shares of the specialty chemicals company's stock worth $401,000 after purchasing an additional 677 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Innospec in the 4th quarter worth approximately $11,312,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Innospec from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd.

Innospec Trading Down 1.8 %

Shares of Innospec stock traded down $1.56 on Tuesday, reaching $83.64. 53,843 shares of the company were exchanged, compared to its average volume of 142,391. Innospec Inc. has a fifty-two week low of $80.32 and a fifty-two week high of $133.71. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 58.90 and a beta of 1.03. The stock has a fifty day moving average price of $102.54 and a 200-day moving average price of $109.72.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.05. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The firm had revenue of $466.80 million for the quarter, compared to the consensus estimate of $447.43 million. On average, equities analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec declared that its Board of Directors has approved a share buyback plan on Monday, March 10th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Insider Activity at Innospec

In related news, Director Milton C. Blackmore sold 652 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $67,351.60. Following the transaction, the director now directly owns 8,376 shares of the company's stock, valued at approximately $865,240.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Corbin Barnes sold 2,692 shares of Innospec stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $278,083.60. Following the transaction, the senior vice president now directly owns 8,051 shares in the company, valued at approximately $831,668.30. This trade represents a 25.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,696 shares of company stock worth $794,853. 1.52% of the stock is owned by corporate insiders.

Innospec 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.