nVerses Capital LLC Sells 900 Shares of Innospec Inc. (NASDAQ:IOSP)

nVerses Capital LLC reduced its position in Innospec Inc. (NASDAQ:IOSP) by 75.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 300 shares of the specialty chemicals company’s stock after selling 900 shares during the period. nVerses Capital LLC’s holdings in Innospec were worth $37,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IOSP. Illinois Municipal Retirement Fund lifted its stake in shares of Innospec by 0.9% in the first quarter. Illinois Municipal Retirement Fund now owns 14,185 shares of the specialty chemicals company’s stock valued at $1,829,000 after buying an additional 120 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in Innospec by 0.4% in the 1st quarter. Bahl & Gaynor Inc. now owns 36,161 shares of the specialty chemicals company’s stock valued at $4,663,000 after acquiring an additional 160 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Innospec by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the specialty chemicals company’s stock valued at $1,545,000 after purchasing an additional 200 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in Innospec by 2.0% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 12,042 shares of the specialty chemicals company’s stock worth $1,488,000 after purchasing an additional 235 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Innospec by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 21,762 shares of the specialty chemicals company’s stock worth $2,806,000 after purchasing an additional 281 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of Innospec stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $114.74, for a total value of $389,886.52. Following the sale, the chief financial officer now owns 12,996 shares of the company’s stock, valued at $1,491,161.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

Innospec Price Performance

IOSP opened at $108.32 on Friday. The firm’s fifty day moving average price is $118.69 and its two-hundred day moving average price is $122.95. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 18.39 and a beta of 1.08. Innospec Inc. has a 1 year low of $95.69 and a 1 year high of $133.71.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.02. The business had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $468.73 million. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. As a group, equities analysts anticipate that Innospec Inc. will post 5.95 EPS for the current year.

Innospec Company 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.