First Trust Advisors LP Lowers Stock Holdings in Innospec Inc. (NASDAQ:IOSP)

First Trust Advisors LP decreased its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,921 shares of the specialty chemicals company's stock after selling 35,377 shares during the quarter. First Trust Advisors LP owned 1.72% of Innospec worth $47,317,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Innospec by 357.1% during the 3rd quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company's stock valued at $5,039,000 after buying an additional 34,811 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Innospec by 63.6% in the third quarter. Sanctuary Advisors LLC now owns 3,152 shares of the specialty chemicals company's stock valued at $377,000 after purchasing an additional 1,225 shares during the period. Franklin Resources Inc. increased its stake in shares of Innospec by 8.6% during the third quarter. Franklin Resources Inc. now owns 27,282 shares of the specialty chemicals company's stock worth $3,116,000 after purchasing an additional 2,154 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Innospec by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company's stock worth $30,160,000 after purchasing an additional 52,640 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in Innospec by 9.5% in the 4th quarter. Diversified Trust Co now owns 3,543 shares of the specialty chemicals company's stock valued at $390,000 after buying an additional 306 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Price Performance

NASDAQ IOSP traded down $0.54 during trading hours on Friday, hitting $89.79. 131,547 shares of the company's stock traded hands, compared to its average volume of 149,202. The company has a market capitalization of $2.26 billion, a PE ratio of 63.23 and a beta of 1.03. Innospec Inc. has a 52-week low of $80.32 and a 52-week high of $133.71. The firm's 50-day moving average is $94.61 and its 200-day moving average is $107.00.

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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com cut Innospec from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Seaport Res Ptn upgraded Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st.

Insider Activity

In related news, VP Philip John Boon sold 3,754 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Corbin Barnes sold 598 shares of Innospec stock in a transaction on Monday, February 24th. The shares were sold at an average price of $103.06, for a total value of $61,629.88. Following the completion of the sale, the senior vice president now owns 8,051 shares in the company, valued at $829,736.06. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,696 shares of company stock valued at $794,853. 1.31% of the stock is currently owned by insiders.

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.