SEC Filing: Huber Capital Management LLC Has Decreased Its Innospec INC (IOSP) Stake by $11.72 Million as Shares Rose

SEC Filing: Huber Capital Management LLC Has Decreased Its Innospec INC (IOSP) Stake by $11.72 Million as Shares Rose

Joe Huber decreased its stake in Innospec Inc (IOSP) by 12.79% based on its latest 2016Q3 regulatory filing with the SEC. Huber Capital Management Llc sold 195,351 shares as the company’s stock rose 31.37% with the market. The hedge fund run by Joe Huber held 1.33 million shares of the major chemicals company at the end of 2016Q3, valued at $81.00 million, down from 1.53M at the end of the previous reported quarter. Huber Capital Management Llc who had been investing in Innospec Inc for a number of months, seems to be less bullish one the $1.65 billion market cap company. The stock is up 0.74% or $0.5 hitting $68.5, despite the negative news. About 3,540 shares traded hands. Innospec Inc. (NASDAQ:IOSP) has risen 37.10% since June 7, 2016 and is uptrending. It has outperformed by 29.67% the S&P500.

Huber Capital Management Llc is a California-based hedge fund that was founded by Joe Huber. It had more than $3.94 billion assets under management in February, 2014. Taken from Huber Capital Management latest Adv, the fund reported to have 10 full and part-time employees. Among which 6 performing investment advisory and research functions. The hedge fund had between 26-100 clients.

Analysts await Innospec Inc. (NASDAQ:IOSP) to report earnings on February, 21. They expect $0.90 earnings per share, down 27.42% or $0.34 from last year’s $1.24 per share. IOSP’s profit will be $21.68 million for 19.03 P/E if the $0.90 EPS becomes a reality. After $0.78 actual earnings per share reported by Innospec Inc. for the previous quarter, Wall Street now forecasts 15.38% EPS growth.

More recent Innospec Inc. (NASDAQ:IOSP) news were published by: Marketwatch.com which released: “Innospec upgraded to overweight from sector weight at KeyBanc Capital” on February 18, 2011. Also Reuters.com published the news titled: “BRIEF-Innospec Inc says co, units entered into third amendment, restatemen…” on December 16, 2016. Quotes.Wsj.com‘s news article titled: “Innospec Inc. IOSP (US: Nasdaq)” with publication date: February 12, 2011 was also an interesting one.

According to Zacks Investment Research, “Octel Corp. is a major manufacturer and distributor of fuel additives and other specialty chemicals. Their products are sold globally, primarily to oil refineries. Principal product lines are lead alkyl antiknock compound, other petroleum additives and performance chemicals.”

Innospec Inc. (NASDAQ:IOSP) Ratings Coverage

Out of 3 analysts covering Innospec (NASDAQ:IOSP), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Innospec has been the topic of 4 analyst reports since October 12, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Monness Crespi & Hardt given on Monday, October 12. The company was upgraded on Tuesday, April 5 by KeyBanc Capital Markets. The firm has “Neutral” rating by Monness Crespi given on Monday, December 19. Monness Crespi maintained Innospec Inc. (NASDAQ:IOSP) rating on Friday, November 4. Monness Crespi has “Buy” rating and $62 price target.

IOSP Company Profile

Innospec Inc., incorporated on January 13, 2006, develops, makes, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Firm operates in three divisions: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to gas and oil exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies. The Company’s oilfield specialties business supplies drilling and production chemicals for exploration and production. The Company’s Octane Additives business makes products for use in automotive gasoline and provides services in respect of environmental remediation.

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