Innospec Inc. (NASDAQ:IOSP) Shares Bought by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. increased its stake in Innospec Inc. by 28.3%, owning 382,410 shares worth approximately $36.2 million after acquiring an additional 84,314 shares.
• Director Leslie J. Parrette sold 446 shares of Innospec at an average price of $90.63, which reduced their ownership by 7.50% to 5,497 shares.
• Innospec reported $1.26 earnings per share for the last quarter, exceeding expectations, and its stock has a market capitalization of $2.02 billion.

Westwood Holdings Group Inc. increased its holdings in Innospec Inc. (NASDAQ:IOSP - Free Report) by 28.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 382,410 shares of the specialty chemicals company's stock after buying an additional 84,314 shares during the quarter. Westwood Holdings Group Inc. owned about 1.52% of Innospec worth $36,233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IOSP. Tsfg LLC purchased a new stake in shares of Innospec in the first quarter worth about $35,000. Covestor Ltd lifted its holdings in Innospec by 13.9% in the fourth quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company's stock valued at $106,000 after acquiring an additional 118 shares during the period. Polymer Capital Management US LLC purchased a new stake in Innospec in the 4th quarter worth approximately $201,000. State of Wyoming boosted its position in Innospec by 167.0% in the 4th quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock worth $217,000 after purchasing an additional 1,236 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of Innospec during the 4th quarter worth approximately $237,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Innospec

In other news, Director Leslie J. Parrette sold 446 shares of Innospec stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total value of $40,420.98. Following the sale, the director owned 5,497 shares in the company, valued at $498,193.11. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.31% of the stock is currently owned by insiders.

Innospec Price Performance

IOSP stock traded up $1.63 during mid-day trading on Friday, reaching $81.44. 202,501 shares of the company's stock were exchanged, compared to its average volume of 196,871. Innospec Inc. has a 12-month low of $74.10 and a 12-month high of $128.35. The stock's 50 day moving average is $84.64 and its 200 day moving average is $92.68. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 104.41 and a beta of 1.07.

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

Analyst Ratings Changes

IOSP has been the subject of several analyst reports. Wall Street Zen cut shares of Innospec from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Seaport Res Ptn upgraded shares of Innospec from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st.

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.