Mackenzie Financial Corp Buys 367 Shares of Innospec Inc. (NASDAQ:IOSP)

Mackenzie Financial Corp raised its stake in Innospec Inc. (NASDAQ:IOSP) by 12.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,391 shares of the specialty chemicals company’s stock after acquiring an additional 367 shares during the period. Mackenzie Financial Corp’s holdings in Innospec were worth $419,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IOSP. DekaBank Deutsche Girozentrale purchased a new position in shares of Innospec during the first quarter valued at about $66,000. CWM LLC increased its stake in Innospec by 239.6% in the 2nd 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 last quarter. Motco purchased a new stake in shares of Innospec during the 1st quarter worth approximately $132,000. EntryPoint Capital LLC purchased a new stake in shares of Innospec during the 1st quarter worth approximately $147,000. Finally, Point72 DIFC Ltd bought a new position in shares of Innospec during the 2nd quarter valued at approximately $184,000. Hedge funds and other institutional investors own 96.64% 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.

Insiders Place Their Bets

In other news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction 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 sale, the chief financial officer now owns 12,996 shares of the company’s stock, valued at approximately $1,491,161.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.52% of the stock is owned by insiders.

Innospec Trading Up 2.0 %

Shares of NASDAQ:IOSP opened at $112.28 on Friday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 19.06 and a beta of 1.07. Innospec Inc. has a 12 month low of $95.69 and a 12 month high of $133.71. The company has a 50-day moving average price of $112.51 and a 200 day moving average price of $120.96.

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 business 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 company’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period last year, the company earned $1.28 EPS. As a group, equities analysts forecast that Innospec Inc. will post 5.95 EPS for the current year.

Innospec 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.