Inspire Advisors LLC Buys 110 Shares of Innospec Inc. (NASDAQ:IOSP)

Inspire Advisors LLC raised its position in shares of Innospec Inc. (NASDAQ:IOSP) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,819 shares of the specialty chemicals company’s stock after purchasing an additional 110 shares during the quarter. Inspire Advisors LLC’s holdings in Innospec were worth $843,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IOSP. TFO Wealth Partners LLC lifted its stake in shares of Innospec by 29,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 299 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 298 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Innospec in the first quarter valued at about $66,000. CWM LLC boosted its stake in shares of Innospec by 239.6% in the second quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock worth $78,000 after acquiring an additional 448 shares during the period. Motco purchased a new stake in shares of Innospec during the first quarter worth about $132,000. Finally, EntryPoint Capital LLC bought a new stake in Innospec during the 1st quarter valued at approximately $147,000. 96.64% of the stock is currently owned by institutional investors.

Innospec Stock Performance

Shares of NASDAQ:IOSP opened at $108.96 on Friday. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 18.50 and a beta of 1.08. Innospec Inc. has a fifty-two week low of $95.69 and a fifty-two week high of $133.71. The firm has a fifty day moving average price of $116.84 and a 200 day moving average price of $122.22.

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

Analysts Set New Price Targets

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

Insider Activity at Innospec

In other Innospec news, CFO Ian Cleminson sold 6,602 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $113.60, for a total transaction of $749,987.20. Following the sale, the chief financial officer now directly owns 16,394 shares of the company’s stock, valued at $1,862,358.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is owned by insiders.

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.