2 weeks Ago By Defense World Staff
Wells Fargo & Company MN lifted its stake in Innospec Inc. (NASDAQ:IOSP – Free Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The fund owned 55,702 shares of the specialty chemicals company’s stock after purchasing an additional 3,696 shares during the quarter. Wells Fargo & Company MN owned 0.22% of Innospec worth $6,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in Innospec in the fourth quarter worth about $106,000. KBC Group NV increased its position 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 valued at $136,000 after acquiring an additional 558 shares in the last quarter. Blue Trust Inc.
increased its position in shares of Innospec by 54.2% during the fourth 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. Smartleaf Asset Management LLC raised its holdings in Innospec by 91.9% in the 4th quarter.
Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock worth $198,000 after acquiring an additional 863 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Innospec by 8.
8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company’s stock valued at $206,000 after acquiring an additional 151 shares in the last quarter.
Institutional investors own 96.64% of the company’s stock. Innospec Stock PerformanceShares of NASDAQ:IOSP opened at $85.
92 on Friday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 60.
51 and a beta of 1.03. The business has a 50-day simple moving average of $96.
69 and a two-hundred day simple moving average of $107.78. Innospec Inc.
has a fifty-two week low of $80.32 and a fifty-two week high of $133.71.
Innospec (NASDAQ:IOSP – Get Free Report) last released its quarterly earnings data 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. Innospec had a net margin of 1.
93% and a return on equity of 12.27%. The firm had revenue of $466.
80 million during the quarter, compared to analysts’ expectations of $447.43 million. As a group, research analysts predict that Innospec Inc.
will post 6.18 earnings per share for the current year. Innospec announced that its Board of Directors has approved a share buyback plan on Monday, March 10th that allows the company to buyback $50.
00 million in shares. This buyback authorization allows the specialty chemicals company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling at InnospecIn related news, 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 value of $67,351.60. Following the completion of the sale, the director now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Philip John Boon sold 3,754 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.
30, for a total value of $387,788.20. Following the completion of the transaction, the vice president now directly owns 20,079 shares in the company, valued at approximately $2,074,160.
70. This represents a 15.75 % decrease in their position.
The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,696 shares of company stock worth $794,853. Insiders own 1.
31% of the company’s stock. Analyst Upgrades and DowngradesSeparately, StockNews.com lowered Innospec from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd.
Check Out Our Latest Stock Analysis on InnospecInnospec Profile (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 StoriesFive stocks we like better than InnospecMastering Discipline: Overcoming Emotional Challenges In TradingJ.
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