Strs Ohio boosted its stake in Innospec Inc. (NASDAQ:IOSP) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,700 shares of the specialty chemicals company’s stock after acquiring an additional 200 shares during the period. Strs Ohio owned 0.05% of Innospec worth $1,158,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Avestar Capital LLC purchased a new stake in shares of Innospec during the 1st quarter worth approximately $66,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Innospec during the 2nd quarter worth approximately $108,000. Grandfield & Dodd LLC purchased a new stake in shares of Innospec during the 1st quarter worth approximately $200,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Innospec during the 2nd quarter worth approximately $201,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Innospec during the 1st quarter worth approximately $202,000. Institutional investors own 94.32% of the company’s stock.
In related news, VP Catherine Hessner sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $83.64, for a total value of $167,280.00. Following the sale, the vice president now owns 20,923 shares of the company’s stock, valued at approximately $1,749,999.72. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 4,300 shares of company stock worth $356,236. 1.62% of the stock is owned by corporate insiders.
Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Innospec had a return on equity of 15.11% and a net margin of 6.10%. The firm had revenue of $362.40 million for the quarter, compared to analyst estimates of $371.20 million. During the same quarter in the prior year, the company earned $0.80 EPS. Innospec’s revenue was up 1.2% on a year-over-year basis. On average, analysts anticipate that Innospec Inc. will post 5.15 EPS for the current year.
Several equities research analysts have recently commented on the company. ValuEngine lowered Innospec from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub lowered Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research lowered Innospec from a “buy” rating to a “hold” rating in a research note on Saturday, July 13th.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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