2 weeks Ago By ABMN Staff
Wells Fargo & Company MN increased its position in Innospec Inc. ( NASDAQ:IOSP – Free Report ) by 7.1% in the 4th quarter, HoldingsChannel reports.
The fund owned 55,702 shares of the specialty chemicals company’s stock after buying an additional 3,696 shares during the quarter. Wells Fargo & Company MN’s holdings in Innospec were worth $6,131,000 as of its most recent filing with the Securities and Exchange Commission. A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company.
Huber Capital Management LLC increased its stake in shares of Innospec by 6.3% in the fourth quarter. Huber Capital Management LLC now owns 49,135 shares of the specialty chemicals company’s stock worth $5,408,000 after purchasing an additional 2,900 shares in the last quarter.
Trexquant Investment LP bought a new position in Innospec in the 4th quarter worth $2,242,000. Geode Capital Management LLC boosted its holdings in Innospec by 2.2% in the 4th quarter.
Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company’s stock worth $76,184,000 after buying an additional 14,788 shares during the period. Alliancebernstein L.P.
increased its stake in Innospec by 0.8% in the 4th quarter. Alliancebernstein L.
P. now owns 28,353 shares of the specialty chemicals company’s stock worth $3,121,000 after buying an additional 230 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Innospec by 22.
8% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,648 shares of the specialty chemicals company’s stock valued at $401,000 after acquiring an additional 677 shares during the period. Institutional investors own 96.
64% of the company’s stock. Wall Street Analysts Forecast Growth Separately, StockNews.com lowered Innospec from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd.
Insider Activity In other Innospec news, VP Philip John Boon sold 3,754 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $387,788.
20. Following the completion of the transaction, the vice president now owns 20,079 shares in the company, valued at $2,074,160.70.
This trade represents a 15.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link .
Also, Director Milton C. Blackmore sold 652 shares of Innospec stock in a transaction on Friday, February 21st. The stock was sold at an average price of $103.
30, for a total transaction of $67,351.60. Following the completion of the transaction, the director now directly owns 8,376 shares of the company’s stock, valued at $865,240.
80. The trade was a 7.22 % decrease in their ownership of the stock.
The disclosure for this sale can be found here . Insiders sold a total of 7,696 shares of company stock worth $794,853 over the last 90 days. Corporate insiders own 1.
31% of the company’s stock. Innospec Price Performance Shares of IOSP opened at $85.92 on Friday.
The firm has a market cap of $2.16 billion, a P/E ratio of 60.51 and a beta of 1.
03. Innospec Inc. has a 1 year low of $80.
32 and a 1 year high of $133.71. The company has a 50 day simple moving average of $96.
69 and a two-hundred day simple moving average of $107.78. Innospec ( NASDAQ:IOSP – Get Free Report ) last posted its earnings results on Tuesday, February 18th.
The specialty chemicals company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.
05. The company had revenue of $466.80 million during the quarter, compared to analysts’ expectations of $447.
43 million. Innospec had a net margin of 1.93% and a return on equity of 12.
27%. On average, sell-side analysts anticipate that Innospec Inc. will post 6.
18 earnings per share for the current year. Innospec declared that its Board of Directors has approved a share buyback plan on Monday, March 10th that allows the company to repurchase $50.00 million in shares.
This repurchase authorization allows the specialty chemicals company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued. About Innospec ( Free Report ) 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. Recommended Stories Want to see what other hedge funds are holding IOSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innospec Inc.
( NASDAQ:IOSP – Free Report ). Receive News & Ratings for Innospec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec and related companies with MarketBeat.com's FREE daily email newsletter .
.
