Innospec Inc. (NASDAQ:IOSP) Stock Holdings Trimmed by US Bancorp DE

US Bancorp DE lessened its position in shares of Innospec Inc. (NASDAQ:IOSP) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,875 shares of the specialty chemicals company’s stock after selling 615 shares during the period. US Bancorp DE’s holdings in Innospec were worth $537,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Innospec by 54.2% during the 4th quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company’s stock valued at $136,000 after acquiring an additional 422 shares in the last quarter. KBC Group NV raised its holdings in shares of Innospec by 82.3% during the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock worth $136,000 after purchasing an additional 558 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Innospec during the third quarter worth $215,000. Claro Advisors LLC bought a new position in shares of Innospec in the 4th quarter worth about $220,000. Finally, Raymond James Trust N.A. boosted its holdings in shares of Innospec by 7.9% in 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. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Innospec from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

Insider Buying and Selling at Innospec

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

Innospec Price Performance

NASDAQ:IOSP opened at $99.83 on Wednesday. The firm has a market capitalization of $2.49 billion, a P/E ratio of 70.30 and a beta of 1.08. The business has a 50 day simple moving average of $108.66 and a 200 day simple moving average of $111.85. Innospec Inc. has a 12-month low of $97.13 and a 12-month high of $133.71.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. The company had revenue of $466.80 million for the quarter, compared to analysts’ expectations of $447.43 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. Research analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec announced that its Board of Directors has authorized a share repurchase plan on Monday, March 10th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.