Bahl & Gaynor Inc. Sells 5,013 Shares of Innospec Inc. $IOSP

Key Points

• Bahl & Gaynor Inc. has reduced its stake in Innospec Inc. by 13.9%, now owning 30,943 shares valued at approximately $2.93 million.
• Innospec recently reported earnings of $1.26 EPS, surpassing analysts' expectations of $1.17, along with a revenue of $439.70 million for the quarter.
• Wall Street analyst ratings for Innospec have shifted, with a recent downgrade from a "buy" to a "hold" rating, while the stock maintains a consensus rating of "Strong Buy."

Bahl & Gaynor Inc. lessened its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 13.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,943 shares of the specialty chemicals company's stock after selling 5,013 shares during the quarter. Bahl & Gaynor Inc. owned about 0.12% of Innospec worth $2,932,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. EntryPoint Capital LLC raised its stake in Innospec by 146.9% during the first quarter. EntryPoint Capital LLC now owns 8,932 shares of the specialty chemicals company's stock worth $846,000 after acquiring an additional 5,314 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Innospec by 2.9% during the first quarter. Hsbc Holdings PLC now owns 7,398 shares of the specialty chemicals company's stock worth $700,000 after purchasing an additional 208 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Innospec during the first quarter worth about $1,516,000. American Century Companies Inc. boosted its holdings in Innospec by 27.7% in the first quarter. American Century Companies Inc. now owns 47,545 shares of the specialty chemicals company's stock valued at $4,505,000 after acquiring an additional 10,309 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Innospec in the first quarter valued at approximately $121,000. Institutional investors and hedge funds own 96.64% of the company's stock.

Innospec Stock Performance

Shares of Innospec stock traded up $0.08 on Friday, reaching $87.67. 23,366 shares of the company's stock were exchanged, compared to its average volume of 201,190. The company has a market capitalization of $2.18 billion, a P/E ratio of 112.39 and a beta of 1.07. Innospec Inc. has a 52 week low of $74.10 and a 52 week high of $128.35. The firm's 50-day moving average is $84.36 and its two-hundred day moving average is $89.87.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The company had revenue of $439.70 million for the quarter, compared to analyst estimates of $440.70 million. During the same period in the prior year, the firm earned $1.39 earnings per share. Innospec's revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts expect that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Innospec has an average rating of "Strong Buy".

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.