8,574 Shares in Innospec Inc. (NASDAQ:IOSP) Acquired by Summit Global Investments

Summit Global Investments acquired a new stake in shares of Innospec Inc. (NASDAQ:IOSP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,574 shares of the specialty chemicals company’s stock, valued at approximately $1,057,000.

Several other hedge funds have also added to or reduced their stakes in IOSP. Bahl & Gaynor Inc. boosted its stake in Innospec by 3.4% in the 4th quarter. Bahl & Gaynor Inc. now owns 36,001 shares of the specialty chemicals company’s stock worth $4,437,000 after purchasing an additional 1,177 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Innospec during the fourth quarter valued at approximately $44,000. ZWJ Investment Counsel Inc. increased its position in shares of Innospec by 5.3% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 41,936 shares of the specialty chemicals company’s stock valued at $5,168,000 after acquiring an additional 2,115 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Innospec by 14.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,820 shares of the specialty chemicals company’s stock valued at $594,000 after acquiring an additional 611 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Innospec during the 4th quarter valued at $1,528,000. 96.64% of the stock is owned by institutional investors.

Innospec Stock Up 0.0 %

Shares of Innospec stock traded up $0.01 on Friday, reaching $121.71. The company’s stock had a trading volume of 77,232 shares, compared to its average volume of 73,844. Innospec Inc. has a 52 week low of $91.74 and a 52 week high of $131.18. The firm’s fifty day simple moving average is $123.98 and its two-hundred day simple moving average is $116.63. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 21.85 and a beta of 1.11.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, February 13th. The specialty chemicals company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.25. Innospec had a return on equity of 13.69% and a net margin of 7.14%. The business had revenue of $494.70 million during the quarter, compared to the consensus estimate of $479.47 million. During the same period in the previous year, the company posted $1.20 EPS. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, research analysts predict that Innospec Inc. will post 6.77 EPS for the current year.

Insiders Place Their Bets

In other Innospec news, SVP David B. Jones sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $125.79, for a total transaction of $314,475.00. Following the sale, the senior vice president now owns 9,664 shares in the company, valued at approximately $1,215,634.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP David B. Jones sold 2,500 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $125.79, for a total transaction of $314,475.00. Following the completion of the transaction, the senior vice president now owns 9,664 shares in the company, valued at $1,215,634.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick Williams sold 9,667 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $125.01, for a total value of $1,208,471.67. Following the transaction, the chief executive officer now owns 164,667 shares of the company’s stock, valued at approximately $20,585,021.67. The disclosure for this sale can be found here. Insiders sold a total of 36,500 shares of company stock worth $4,532,959 over the last quarter. 1.52% of the stock is currently owned by corporate insiders.

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.