Westwood Holdings Group Inc. Trims Stake in Innospec Inc. (NASDAQ:IOSP)

Westwood Holdings Group Inc. lessened its stake in Innospec Inc. (NASDAQ:IOSP) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,476 shares of the specialty chemicals company’s stock after selling 3,761 shares during the period. Westwood Holdings Group Inc. owned about 1.07% of Innospec worth $33,057,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Innospec during the 4th quarter valued at about $25,925,000. UBS Group AG boosted its position in Innospec by 204,935.7% during the fourth quarter. UBS Group AG now owns 57,410 shares of the specialty chemicals company’s stock worth $7,075,000 after purchasing an additional 57,382 shares in the last quarter. Quest Partners LLC purchased a new position in Innospec during the fourth quarter worth approximately $304,000. Bell & Brown Wealth Advisors LLC purchased a new position in Innospec during the fourth quarter worth approximately $643,000. Finally, TFO Wealth Partners LLC boosted its position 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 in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ian Cleminson sold 3,398 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $114.74, for a total value of $389,886.52. Following the transaction, the chief financial officer now owns 12,996 shares in the company, valued at $1,491,161.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.52% of the company’s stock.

Innospec Trading Down 1.8 %

Shares of IOSP stock opened at $111.94 on Friday. The company has a market capitalization of $2.79 billion, a P/E ratio of 19.01 and a beta of 1.08. The business’s 50 day moving average is $115.79 and its two-hundred day moving average is $121.78. Innospec Inc. has a 12-month low of $95.69 and a 12-month high of $133.71.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.02. The business had revenue of $435.00 million for 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 business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. On average, research analysts predict that Innospec Inc. will post 5.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.