Inspire Advisors LLC Sells 328 Shares of Innospec Inc. (NASDAQ:IOSP)

Inspire Advisors LLC cut its position in shares of Innospec Inc. (NASDAQ:IOSP) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,491 shares of the specialty chemicals company’s stock after selling 328 shares during the period. Inspire Advisors LLC’s holdings in Innospec were worth $734,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IOSP. Vanguard Group Inc. boosted its stake in Innospec by 5.5% during the first quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after buying an additional 161,249 shares in the last quarter. Wasatch Advisors LP increased its stake in Innospec by 1.1% in the first quarter. Wasatch Advisors LP now owns 1,972,110 shares of the specialty chemicals company’s stock valued at $254,284,000 after acquiring an additional 22,094 shares during the period. Bank of New York Mellon Corp raised its position in Innospec by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 258,294 shares of the specialty chemicals company’s stock worth $31,923,000 after purchasing an additional 6,148 shares in the last quarter. Sei Investments Co. lifted its stake in Innospec by 4.9% during the first quarter. Sei Investments Co. now owns 138,788 shares of the specialty chemicals company’s stock worth $17,895,000 after purchasing an additional 6,532 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Innospec by 3.2% during the first quarter. Bessemer Group Inc. now owns 121,921 shares of the specialty chemicals company’s stock valued at $15,720,000 after purchasing an additional 3,775 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Price Performance

Innospec stock opened at $113.31 on Friday. Innospec Inc. has a 52-week low of $95.69 and a 52-week high of $133.71. The stock has a fifty day moving average price of $111.26 and a two-hundred day moving average price of $119.99. The firm has a market capitalization of $2.83 billion, a P/E ratio of 18.98 and a beta of 1.07.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. The business had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $468.73 million. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter last year, the company posted $1.28 EPS. On average, equities research analysts predict that Innospec Inc. will post 5.95 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Insider Activity

In related news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $114.74, for a total transaction of $389,886.52. Following the sale, the chief financial officer now directly owns 12,996 shares in the company, valued at $1,491,161.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.35% of the stock is currently 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.