Ingalls & Snyder LLC Takes $3.53 Million Position in Innospec Inc. (NASDAQ:IOSP)

Ingalls & Snyder LLC acquired a new stake in Innospec Inc. (NASDAQ:IOSP) during the second quarter, according to its most recent filing with the SEC. The firm acquired 28,596 shares of the specialty chemicals company’s stock, valued at approximately $3,534,000. Ingalls & Snyder LLC owned about 0.11% of Innospec at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Innospec by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock valued at $401,670,000 after buying an additional 161,249 shares during the period. Wasatch Advisors LP boosted its position in shares of Innospec by 1.1% during the 1st quarter. Wasatch Advisors LP now owns 1,972,110 shares of the specialty chemicals company’s stock worth $254,284,000 after purchasing an additional 22,094 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Innospec by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 307,490 shares of the specialty chemicals company’s stock worth $37,895,000 after purchasing an additional 8,855 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Innospec by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 258,294 shares of the specialty chemicals company’s stock valued at $31,923,000 after purchasing an additional 6,148 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Innospec in the fourth quarter valued at about $25,925,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Innospec Stock Performance

Shares of IOSP stock opened at $115.26 on Friday. The stock has a fifty day moving average price of $119.68 and a 200 day moving average price of $123.29. The stock has a market cap of $2.87 billion, a PE ratio of 19.57 and a beta of 1.10. Innospec Inc. has a 1 year low of $95.69 and a 1 year high of $133.71.

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

Insider Buying and Selling at Innospec

In other news, CFO Ian Cleminson sold 3,398 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the transaction, the chief financial officer now directly owns 12,996 shares of the company’s stock, valued at approximately $1,491,161.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.52% of the company’s stock.

About Innospec

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.