Connors Investor Services Inc. Has $2.83 Million Stake in Innospec Inc. (NASDAQ:IOSP)

Connors Investor Services Inc. cut its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,894 shares of the specialty chemicals company’s stock after selling 875 shares during the quarter. Connors Investor Services Inc. owned 0.09% of Innospec worth $2,829,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Innospec during the fourth quarter worth about $25,925,000. Vanguard Group Inc. lifted its holdings in shares of Innospec by 5.5% in the first quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after acquiring an additional 161,249 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Innospec by 98.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock valued at $14,841,000 after purchasing an additional 59,554 shares in the last quarter. UBS Group AG grew its holdings in shares of Innospec by 204,935.7% during the 4th quarter. UBS Group AG now owns 57,410 shares of the specialty chemicals company’s stock valued at $7,075,000 after purchasing an additional 57,382 shares during the last quarter. Finally, Gendell Jeffrey L acquired a new position in Innospec during the 1st quarter worth approximately $7,090,000. 96.64% of the stock is currently owned by institutional investors.

Innospec Stock Performance

Shares of NASDAQ IOSP opened at $109.91 on Tuesday. The stock has a market cap of $2.74 billion, a P/E ratio of 18.66 and a beta of 1.08. Innospec Inc. has a 52-week low of $95.69 and a 52-week high of $133.71. The firm has a 50 day moving average price of $116.58 and a two-hundred day moving average price of $122.10.

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 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 during the quarter, compared to the consensus estimate of $468.73 million. During the same quarter in the prior year, the firm posted $1.28 EPS. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. Analysts predict that Innospec Inc. will post 5.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Innospec

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of Innospec 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 completion of the sale, the chief financial officer now directly owns 12,996 shares of the company’s stock, valued at $1,491,161.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.52% of the stock is owned by company insiders.

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.