Vanguard Group Inc. lifted its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,941,356 shares of the specialty chemicals company's stock after buying an additional 11,502 shares during the period. Vanguard Group Inc. owned approximately 11.83% of Innospec worth $300,607,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Belpointe Asset Management LLC increased its holdings in shares of Innospec by 226.2% in the first quarter. Belpointe Asset Management LLC now owns 274 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 190 shares during the period. Captrust Financial Advisors increased its holdings in shares of Innospec by 74.7% in the first quarter. Captrust Financial Advisors now owns 498 shares of the specialty chemicals company's stock worth $46,000 after buying an additional 213 shares during the period. Point72 Middle East FZE purchased a new position in shares of Innospec in the fourth quarter worth about $57,000. Point72 Hong Kong Ltd purchased a new position in shares of Innospec in the first quarter worth about $53,000. Finally, Pinebridge Investments L.P. increased its holdings in shares of Innospec by 102.6% in the second quarter. Pinebridge Investments L.P. now owns 778 shares of the specialty chemicals company's stock worth $78,000 after buying an additional 394 shares during the period. Hedge funds and other institutional investors own 96.64% of the company's stock.
Innospec Stock Down 0.5 %
Shares of IOSP traded down $0.61 during trading hours on Thursday, hitting $128.94. The company had a trading volume of 73,268 shares, compared to its average volume of 93,863. The firm has a market cap of $3.21 billion, a P/E ratio of 23.15 and a beta of 1.10. Innospec Inc. has a 52-week low of $91.74 and a 52-week high of $131.18. The stock's 50 day moving average price is $122.37 and its 200 day moving average price is $112.93.
Innospec (NASDAQ:IOSP - Get Free Report) last posted its earnings results on Tuesday, February 13th. The specialty chemicals company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.25. The company had revenue of $494.70 million for the quarter, compared to analysts' expectations of $479.47 million. Innospec had a return on equity of 13.69% and a net margin of 7.14%. Innospec's quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. On average, research analysts expect that Innospec Inc. will post 6.72 EPS for the current fiscal year.
Insider Buying and Selling
In related news, SVP David B. Jones sold 2,500 shares of the firm's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $125.79, for a total value of $314,475.00. Following the sale, the senior vice president now directly owns 9,664 shares of the company's stock, valued at $1,215,634.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Innospec news, SVP Hardy Louis Griffin III sold 1,875 shares of Innospec stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $122.07, for a total transaction of $228,881.25. Following the sale, the senior vice president now directly owns 5,000 shares of the company's stock, valued at approximately $610,350. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David B. Jones sold 2,500 shares of Innospec stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $125.79, for a total value of $314,475.00. Following the sale, the senior vice president now directly owns 9,664 shares in the company, valued at $1,215,634.56. The disclosure for this sale can be found here. Insiders have sold 36,500 shares of company stock valued at $4,532,959 over the last ninety days. 1.52% of the stock is owned by insiders.
Innospec Company Profile
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Free Report)
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.
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