14,748 Shares in Innospec Inc. (NASDAQ:IOSP) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in shares of Innospec Inc. (NASDAQ:IOSP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,748 shares of the specialty chemicals company’s stock, valued at approximately $1,623,000. Proficio Capital Partners LLC owned about 0.06% of Innospec as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of IOSP. HighTower Advisors LLC increased its position in shares of Innospec by 5.2% in the third quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock worth $350,000 after acquiring an additional 154 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Innospec by 7.9% during the 3rd quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock valued at $238,000 after buying an additional 155 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Innospec by 0.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 59,602 shares of the specialty chemicals company’s stock valued at $6,740,000 after acquiring an additional 195 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Innospec by 1.4% during the 4th quarter. New York State Teachers Retirement System now owns 14,981 shares of the specialty chemicals company’s stock valued at $1,649,000 after buying an additional 200 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. increased its holdings in Innospec by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 4,923 shares of the specialty chemicals company’s stock worth $542,000 after buying an additional 230 shares during the last quarter. 96.64% of the stock is owned by institutional investors.

Innospec Trading Down 0.1 %

NASDAQ IOSP opened at $98.57 on Thursday. Innospec Inc. has a 1 year low of $96.39 and a 1 year high of $133.71. The company has a fifty day simple moving average of $107.28 and a 200 day simple moving average of $111.10. The company has a market cap of $2.46 billion, a P/E ratio of 69.42 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.36 by $0.05. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The company had revenue of $466.80 million for the quarter, compared to the consensus estimate of $447.43 million. Equities research analysts forecast that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec declared that its board has approved a share repurchase program on Monday, March 10th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insider Buying and Selling

In other Innospec news, VP Philip John Boon sold 3,754 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $387,788.20. Following the sale, the vice president now directly owns 20,079 shares in the company, valued at $2,074,160.70. This represents a 15.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Corbin Barnes sold 598 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88. Following the completion of the sale, the senior vice president now owns 8,051 shares in the company, valued at $829,736.06. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,696 shares of company stock valued at $794,853 over the last three months. 1.52% of the stock is owned by corporate insiders.

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.