Raymond James & Associates Has $9.48 Million Stock Position in Innospec Inc. (NASDAQ:IOSP)

Raymond James & Associates lifted its holdings in Innospec Inc. (NASDAQ:IOSP) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,843 shares of the specialty chemicals company’s stock after purchasing an additional 7,616 shares during the quarter. Raymond James & Associates owned 0.34% of Innospec worth $9,482,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in Innospec during the 1st quarter worth about $66,000. CWM LLC increased its position in shares of 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 acquiring an additional 448 shares during the last quarter. Blue Trust Inc. raised its holdings 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 in the last quarter. nVerses Capital LLC boosted its position in Innospec by 200.0% during the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 600 shares during the last quarter. Finally, Motco bought a new position in Innospec in the first quarter valued at approximately $132,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Insider Buying and Selling at Innospec

In related 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 transaction, the chief financial officer now directly owns 16,394 shares of the company’s stock, valued at approximately $1,862,358.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.35% of the company’s stock.

Analysts Set New Price Targets

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

Innospec Trading Down 0.7 %

NASDAQ IOSP opened at $109.28 on Wednesday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 18.30 and a beta of 1.07. The firm’s fifty day moving average price is $111.49 and its two-hundred day moving average price is $119.30. Innospec Inc. has a 1 year low of $96.89 and a 1 year high of $133.71.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $468.73 million. During the same period in the prior year, the firm earned $1.28 EPS. Innospec’s quarterly revenue was down 9.5% compared to the same quarter last year. On average, research analysts anticipate that Innospec Inc. will post 5.92 EPS for the current fiscal 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.