Hillsdale Investment Management Inc. raised its stake in Innospec Inc. (NASDAQ:IOSP) by 32.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,900 shares of the specialty chemicals company’s stock after acquiring an additional 2,400 shares during the period. Hillsdale Investment Management Inc.’s holdings in Innospec were worth $903,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in IOSP. Avestar Capital LLC purchased a new stake in shares of Innospec during the 1st quarter valued at $66,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Innospec during the second quarter worth about $108,000. Grandfield & Dodd LLC acquired a new stake in Innospec during the first quarter worth about $200,000. Campbell & CO Investment Adviser LLC acquired a new stake in Innospec during the second quarter worth about $201,000. Finally, Csenge Advisory Group acquired a new stake in Innospec during the second quarter worth about $208,000. 94.32% of the stock is currently owned by hedge funds and other institutional investors.
IOSP traded up $0.53 on Friday, hitting $85.00. 129,000 shares of the company’s stock were exchanged, compared to its average volume of 107,756. Innospec Inc. has a twelve month low of $53.07 and a twelve month high of $96.23. The company has a current ratio of 2.14, a quick ratio of 1.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $2.07 billion, a PE ratio of 17.60 and a beta of 1.29. The stock has a fifty day moving average of $91.25 and a two-hundred day moving average of $84.39.
Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.10 by $0.02. Innospec had a net margin of 6.10% and a return on equity of 15.11%. The firm had revenue of $362.40 million during the quarter, compared to analysts’ expectations of $371.20 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Innospec’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Innospec Inc. will post 5.15 EPS for the current year.
IOSP has been the topic of several research reports. Zacks Investment Research lowered shares of Innospec from a “buy” rating to a “hold” rating in a research note on Saturday, July 13th. BidaskClub lowered shares of Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, ValuEngine lowered shares of Innospec from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.
In other news, VP Catherine Hessner sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $83.64, for a total value of $167,280.00. Following the completion of the transaction, the vice president now directly owns 20,923 shares in the company, valued at $1,749,999.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 4,300 shares of company stock valued at $356,236 over the last quarter. Insiders own 1.62% of the company’s stock.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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