Texas Permanent School Fund Corp raised its stake in Innospec Inc. (NASDAQ:IOSP – Free Report) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,891 shares of the specialty chemicals company’s stock after acquiring an additional 129 shares during the period. Texas Permanent School Fund Corp owned approximately 0.09% of Innospec worth $2,706,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. TFO Wealth Partners LLC lifted its stake in Innospec by 29,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 299 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 298 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Innospec during the 1st quarter worth $66,000. CWM LLC boosted its stake 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 buying an additional 448 shares in the last quarter. Motco bought a new position in Innospec in the first quarter valued at about $132,000. Finally, EntryPoint Capital LLC acquired a new position in Innospec during the first quarter worth about $147,000. 96.64% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Innospec news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction 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 of the company’s stock, valued at $1,491,161.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.52% of the company’s stock.
Innospec Price Performance
Innospec (NASDAQ:IOSP – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $468.73 million. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The company’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.28 earnings per share. As a group, research analysts expect that Innospec Inc. will post 5.95 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.
Read Our Latest Stock Report on Innospec
About Innospec
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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