Bahl & Gaynor Inc. Purchases 1,457 Shares of Innospec Inc. (NASDAQ:IOSP)

Bahl & Gaynor Inc. boosted its position in Innospec Inc. (NASDAQ:IOSP) by 4.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,618 shares of the specialty chemicals company’s stock after acquiring an additional 1,457 shares during the period. Bahl & Gaynor Inc. owned 0.15% of Innospec worth $4,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IOSP. Norges Bank bought a new position in shares of Innospec in the fourth quarter worth $25,925,000. Assenagon Asset Management S.A. raised its stake in shares of Innospec by 98.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock valued at $14,841,000 after purchasing an additional 59,554 shares during the period. Vanguard Group Inc. lifted its holdings in Innospec by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 2,953,918 shares of the specialty chemicals company’s stock worth $364,041,000 after purchasing an additional 12,562 shares in the last quarter. Evoke Wealth LLC purchased a new position in Innospec during the 4th quarter valued at about $3,866,000. Finally, BNP Paribas Financial Markets grew its holdings in Innospec by 33.1% during the 1st quarter. BNP Paribas Financial Markets now owns 25,063 shares of the specialty chemicals company’s stock valued at $3,232,000 after buying an additional 6,237 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $114.74, for a total value of $389,886.52. Following the transaction, the chief financial officer now directly owns 12,996 shares in the company, valued at $1,491,161.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Innospec Price Performance

NASDAQ IOSP opened at $106.48 on Thursday. The company’s 50 day simple moving average is $117.72 and its two-hundred day simple moving average is $122.56. The stock has a market capitalization of $2.65 billion, a PE ratio of 18.08 and a beta of 1.08. Innospec Inc. has a 1 year low of $95.69 and a 1 year high of $133.71.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.02. The company had revenue of $435.00 million during the quarter, compared to analyst estimates of $468.73 million. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.28 earnings per share. On average, research analysts anticipate that Innospec Inc. will post 5.95 EPS for the current year.

Innospec Company 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.