Eagle Asset Management Inc. cut its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 31.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 217,706 shares of the specialty chemicals company’s stock after selling 99,109 shares during the period. Eagle Asset Management Inc.’s holdings in Innospec were worth $15,370,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in IOSP. C M Bidwell & Associates Ltd. bought a new stake in shares of Innospec during the fourth quarter valued at about $142,000. Victory Capital Management Inc. increased its position in shares of Innospec by 33.4% during the third quarter. Victory Capital Management Inc. now owns 3,629 shares of the specialty chemicals company’s stock valued at $224,000 after buying an additional 909 shares during the period. SG Americas Securities LLC increased its position in shares of Innospec by 130.5% during the third quarter. SG Americas Securities LLC now owns 3,738 shares of the specialty chemicals company’s stock valued at $230,000 after buying an additional 2,116 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Innospec by 39.7% during the second quarter. Cubist Systematic Strategies LLC now owns 4,397 shares of the specialty chemicals company’s stock valued at $288,000 after buying an additional 1,250 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Innospec during the third quarter valued at about $302,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.
In other Innospec news, insider Philip Curran sold 375 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $71.56, for a total transaction of $26,835.00. Following the transaction, the insider now directly owns 2,968 shares in the company, valued at $212,390.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine Hessner sold 707 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $71.56, for a total transaction of $50,592.92. Following the transaction, the vice president now owns 25,791 shares in the company, valued at $1,845,603.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,926 shares of company stock worth $1,713,017. 2.02% of the stock is owned by company insiders.
Innospec Inc. (IOSP) opened at $68.20 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.15 and a quick ratio of 1.34. The firm has a market cap of $1,660.69, a P/E ratio of 27.17 and a beta of 1.07. Innospec Inc. has a 52-week low of $54.10 and a 52-week high of $74.30.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 13th. The specialty chemicals company reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.34. The company had revenue of $353.80 million for the quarter. Innospec had a net margin of 4.73% and a return on equity of 15.57%. analysts anticipate that Innospec Inc. will post 4.5 EPS for the current year.
Several research analysts recently weighed in on the stock. BidaskClub cut shares of Innospec from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Zacks Investment Research cut shares of Innospec from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. KeyCorp restated an “overweight” rating on shares of Innospec in a research report on Thursday, November 9th. Monness Crespi & Hardt cut shares of Innospec from a “buy” rating to a “neutral” rating in a research report on Thursday, November 9th. Finally, ValuEngine upgraded shares of Innospec from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.50.
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Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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