AlphaQuest LLC increased its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 4,063.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,656 shares of the specialty chemicals company's stock after purchasing an additional 12,352 shares during the quarter. AlphaQuest LLC owned approximately 0.05% of Innospec worth $1,393,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in Innospec by 8.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company's stock worth $206,000 after purchasing an additional 151 shares during the last quarter. HighTower Advisors LLC raised its position in Innospec by 5.2% during 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. raised its position in Innospec by 7.9% during the third quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company's stock worth $238,000 after acquiring an additional 155 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Innospec by 0.3% during the third quarter. Thrivent Financial for Lutherans now owns 59,602 shares of the specialty chemicals company's stock worth $6,740,000 after acquiring an additional 195 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in Innospec by 1.4% during the fourth quarter. New York State Teachers Retirement System now owns 14,981 shares of the specialty chemicals company's stock worth $1,649,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.
Insider Activity
In related news, SVP Corbin Barnes sold 598 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88. Following the transaction, the senior vice president now directly owns 8,051 shares of the company's stock, valued at approximately $829,736.06. This trade represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Milton C. Blackmore sold 652 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $67,351.60. Following the transaction, the director now directly owns 8,376 shares in the company, valued at approximately $865,240.80. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,696 shares of company stock valued at $794,853 over the last ninety days. 1.52% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Innospec from a "hold" rating to a "buy" rating in a research report on Thursday.
Read Our Latest Report on Innospec
Innospec Trading Up 1.1 %
NASDAQ IOSP opened at $100.62 on Monday. The firm has a market capitalization of $2.51 billion, a P/E ratio of 70.86 and a beta of 1.08. The firm's fifty day moving average price is $108.89 and its two-hundred day moving average price is $111.94. Innospec Inc. has a 1 year low of $97.13 and a 1 year high of $133.71.
Innospec (NASDAQ:IOSP - Get Free Report) last issued 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. The company had revenue of $466.80 million for the quarter, compared to analyst estimates of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. On average, research analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.
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.
See Also
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).
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