Innospec Inc. (NASDAQ:IOSP) Shares Purchased by Raymond James & Associates

Raymond James & Associates lifted its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,843 shares of the specialty chemicals company's stock after acquiring an additional 7,616 shares during the period. Raymond James & Associates owned 0.34% of Innospec worth $9,482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IOSP. DekaBank Deutsche Girozentrale acquired a new position in shares of Innospec during the 1st quarter valued at about $66,000. CWM LLC grew its holdings in Innospec by 239.6% in the second 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. Blue Trust Inc. increased its stake in Innospec by 503.9% during the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company's stock worth $96,000 after acquiring an additional 650 shares during the last quarter. nVerses Capital LLC raised its holdings in shares of Innospec by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company's stock worth $102,000 after purchasing an additional 600 shares during the period. Finally, Motco acquired a new position in shares of Innospec in the 1st quarter valued at about $132,000. Hedge funds and other institutional investors own 96.64% of the company's stock.

Insider Activity

In other news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the transaction, the chief financial officer now directly owns 12,996 shares in the company, valued at approximately $1,491,161.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.35% of the company's stock.

Wall Street Analysts Forecast Growth

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

Innospec Trading Up 0.5 %

NASDAQ IOSP traded up $0.52 during mid-day trading on Wednesday, reaching $109.80. 62,947 shares of the company's stock traded hands, compared to its average volume of 106,719. The company has a fifty day simple moving average of $111.49 and a 200-day simple moving average of $119.21. Innospec Inc. has a 1-year low of $96.92 and a 1-year high of $133.71. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 18.30 and a beta of 1.07.

Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 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 analysts' expectations of $468.73 million. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The business's revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 EPS. Equities research analysts forecast that Innospec Inc. will post 5.92 earnings per share for the current fiscal 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.