Oppenheimer Asset Management Inc. Acquires 4,812 Shares of Innospec Inc. (NASDAQ:IOSP)

Oppenheimer Asset Management Inc. grew its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 31.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,136 shares of the specialty chemicals company’s stock after acquiring an additional 4,812 shares during the period. Oppenheimer Asset Management Inc. owned about 0.08% of Innospec worth $2,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In related news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the sale, the chief financial officer now owns 12,996 shares of the company’s stock, valued at $1,491,161.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

Innospec Trading Up 1.9 %

Shares of NASDAQ IOSP opened at $112.03 on Wednesday. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 19.02 and a beta of 1.08. Innospec Inc. has a 12-month low of $95.69 and a 12-month high of $133.71. The firm’s 50-day moving average price is $116.42 and its 200-day moving average price is $122.01.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The business had revenue of $435.00 million for the quarter, compared to the consensus estimate of $468.73 million. During the same period in the prior year, the firm earned $1.28 EPS. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, equities analysts predict that Innospec Inc. will post 5.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.