Bahl & Gaynor Inc. Raises Position in Innospec Inc. (NASDAQ:IOSP)

Bahl & Gaynor Inc. raised its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,001 shares of the specialty chemicals company’s stock after buying an additional 1,177 shares during the period. Bahl & Gaynor Inc.’s holdings in Innospec were worth $4,437,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Innospec by 8.7% during the 3rd quarter. Sei Investments Co. now owns 128,506 shares of the specialty chemicals company’s stock valued at $13,133,000 after buying an additional 10,268 shares during the last quarter. AMG National Trust Bank bought a new position in Innospec in the 3rd quarter worth $907,000. Assenagon Asset Management S.A. bought a new position in Innospec in the 3rd quarter worth $1,207,000. Charles Schwab Investment Management Inc. boosted its holdings in Innospec by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 298,635 shares of the specialty chemicals company’s stock worth $30,520,000 after buying an additional 12,135 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Innospec by 1.7% during the 4th quarter. Diversified Trust Co now owns 11,154 shares of the specialty chemicals company’s stock valued at $1,375,000 after purchasing an additional 185 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Innospec

In other news, Director Leslie J. Parrette bought 410 shares of the stock in a transaction on Thursday, February 22nd. The stock was bought at an average cost of $123.96 per share, for a total transaction of $50,823.60. Following the completion of the purchase, the director now directly owns 3,620 shares in the company, valued at $448,735.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Patrick Williams sold 9,667 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $124.37, for a total value of $1,202,284.79. Following the transaction, the chief executive officer now owns 174,334 shares in the company, valued at $21,681,919.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leslie J. Parrette purchased 410 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was bought at an average cost of $123.96 per share, with a total value of $50,823.60. Following the acquisition, the director now owns 3,620 shares of the company’s stock, valued at approximately $448,735.20. The disclosure for this purchase can be found here. Insiders sold a total of 36,500 shares of company stock worth $4,532,959 over the last three months. Corporate insiders own 1.52% of the company’s stock.

Innospec Stock Up 0.8 %

IOSP opened at $121.12 on Friday. The firm has a 50-day simple moving average of $124.28 and a two-hundred day simple moving average of $115.90. Innospec Inc. has a 52 week low of $91.74 and a 52 week high of $131.18. The company has a market capitalization of $3.02 billion, a PE ratio of 21.75 and a beta of 1.10.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, February 13th. The specialty chemicals company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.25. The business had revenue of $494.70 million for the quarter, compared to the consensus estimate of $479.47 million. Innospec had a net margin of 7.14% and a return on equity of 13.69%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 EPS. As a group, sell-side analysts expect that Innospec Inc. will post 6.77 earnings per share for the current year.

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.