Envestnet Asset Management Inc. Raises Stock Holdings in Innospec Inc. (NASDAQ:IOSP)

Envestnet Asset Management Inc. raised its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,554 shares of the specialty chemicals company's stock after purchasing an additional 3,578 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Innospec worth $3,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Innospec in the 4th quarter valued at $106,000. KBC Group NV grew its position in Innospec by 82.3% during the 4th quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company's stock worth $136,000 after acquiring an additional 558 shares during the last quarter. Blue Trust Inc. lifted its position in Innospec by 54.2% in the fourth quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company's stock valued at $136,000 after purchasing an additional 422 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Innospec by 91.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company's stock worth $198,000 after purchasing an additional 863 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Innospec by 8.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company's stock worth $206,000 after buying an additional 151 shares during the period. Hedge funds and other institutional investors own 96.64% of the company's stock.

Analysts Set New Price Targets

IOSP has been the topic of a number of recent analyst reports. Seaport Res Ptn raised shares of Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. StockNews.com upgraded shares of Innospec from a "hold" rating to a "buy" rating in a research note on Monday.

Insider Buying and Selling

In related news, SVP Corbin Barnes sold 598 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88. Following the completion of 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 SEC, which is accessible through this link. Also, VP Philip John Boon sold 3,754 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 $387,788.20. Following the completion of the sale, the vice president now owns 20,079 shares in the company, valued at approximately $2,074,160.70. The trade was a 15.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,696 shares of company stock valued at $794,853. Corporate insiders own 1.31% of the company's stock.

Innospec Stock Performance

Shares of IOSP stock traded up $0.10 during mid-day trading on Tuesday, reaching $89.90. 276,975 shares of the company's stock traded hands, compared to its average volume of 149,656. The firm has a market capitalization of $2.26 billion, a PE ratio of 63.31 and a beta of 1.03. The firm has a 50 day moving average price of $94.36 and a two-hundred day moving average price of $106.80. Innospec Inc. has a 12 month low of $80.32 and a 12 month high of $133.71.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.05. The company had revenue of $466.80 million during the quarter, compared to the consensus estimate of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. As a group, equities analysts expect that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec announced that its board has initiated a stock repurchase plan on Monday, March 10th that authorizes the company to repurchase $50.00 million in 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 often an indication that the company's board of directors believes its shares are undervalued.

Innospec Company 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.