ZWJ Investment Counsel Inc. increased its stake in Innospec Inc. (NASDAQ:IOSP – Free Report) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,147 shares of the specialty chemicals company’s stock after acquiring an additional 1,504 shares during the period. ZWJ Investment Counsel Inc. owned about 0.17% of Innospec worth $4,879,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new position in Innospec during the 1st quarter valued at about $66,000. CWM LLC increased its holdings in Innospec by 239.6% during the 2nd quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock valued at $78,000 after purchasing an additional 448 shares during the period. Motco purchased a new position in Innospec during the 1st quarter valued at about $132,000. EntryPoint Capital LLC purchased a new position in Innospec during the 1st quarter valued at about $147,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Innospec during the 2nd quarter worth approximately $184,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.
Innospec Stock Performance
IOSP stock opened at $116.08 on Thursday. Innospec Inc. has a fifty-two week low of $95.69 and a fifty-two week high of $133.71. The business’s 50 day moving average price is $110.80 and its two-hundred day moving average price is $120.14. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 19.71 and a beta of 1.07.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.
Get Our Latest Research Report on IOSP
Insider Buying and Selling
In related news, CFO Ian Cleminson sold 3,398 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $114.74, for a total value of $389,886.52. Following the sale, the chief financial officer now owns 12,996 shares in the company, valued at $1,491,161.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.52% of the stock is currently owned by company insiders.
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.
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