Amundi Increases Stake in Innospec Inc. (NASDAQ:IOSP)

Amundi raised its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 194.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,018 shares of the specialty chemicals company's stock after purchasing an additional 8,592 shares during the period. Amundi owned 0.05% of Innospec worth $1,388,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Wasatch Advisors LP boosted its holdings in Innospec by 0.6% in the 3rd quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company's stock valued at $204,189,000 after purchasing an additional 11,231 shares during the period. State Street Corp lifted its holdings in shares of Innospec by 2.1% during the 3rd quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company's stock worth $112,669,000 after acquiring an additional 20,744 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Innospec by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 922,220 shares of the specialty chemicals company's stock worth $101,500,000 after acquiring an additional 14,188 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Innospec by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 677,283 shares of the specialty chemicals company's stock worth $76,606,000 after acquiring an additional 24,843 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Innospec during the 4th quarter worth $53,457,000. 96.64% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other Innospec news, VP Philip John Boon sold 3,754 shares of the business's stock in a transaction on 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 sale, the vice president now directly owns 20,079 shares of the company's stock, valued at $2,074,160.70. The trade was a 15.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Milton C. Blackmore sold 652 shares of the business's 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 sale, the director now directly owns 8,376 shares of the company's stock, valued at $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 sold 7,696 shares of company stock valued at $794,853 over the last three months. Insiders own 1.52% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Innospec from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Innospec Stock Down 2.4 %

Shares of NASDAQ IOSP traded down $2.41 during mid-day trading on Friday, reaching $96.01. 1,456,569 shares of the company were exchanged, compared to its average volume of 126,724. Innospec Inc. has a 52 week low of $95.17 and a 52 week high of $133.71. The stock has a market capitalization of $2.40 billion, a PE ratio of 67.61 and a beta of 1.08. The company's 50 day moving average price is $106.94 and its 200 day moving average price is $110.88.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.05. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The company had revenue of $466.80 million during the quarter, compared to the consensus estimate of $447.43 million. On average, sell-side analysts predict that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec declared that its board has initiated a share repurchase plan on Monday, March 10th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Innospec Profile

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.