Allspring Global Investments Holdings LLC Acquires 105,311 Shares of Innospec Inc. (NASDAQ:IOSP)

Allspring Global Investments Holdings LLC grew its holdings in Innospec Inc. (NASDAQ:IOSP - Free Report) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,405,770 shares of the specialty chemicals company's stock after acquiring an additional 105,311 shares during the quarter. Allspring Global Investments Holdings LLC owned 9.65% of Innospec worth $272,069,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Innospec by 98.4% in the second quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company's stock valued at $14,841,000 after buying an additional 59,554 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Innospec by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 2,953,918 shares of the specialty chemicals company's stock worth $364,041,000 after purchasing an additional 12,562 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Innospec by 33.1% in the first quarter. BNP Paribas Financial Markets now owns 25,063 shares of the specialty chemicals company's stock worth $3,232,000 after purchasing an additional 6,237 shares during the period. Sei Investments Co. increased its position in shares of Innospec by 4.9% in the first quarter. Sei Investments Co. now owns 138,788 shares of the specialty chemicals company's stock worth $17,895,000 after purchasing an additional 6,532 shares during the period. Finally, SG Americas Securities LLC raised its stake in Innospec by 660.1% in the second quarter. SG Americas Securities LLC now owns 9,767 shares of the specialty chemicals company's stock valued at $1,207,000 after purchasing an additional 8,482 shares in the last quarter. Institutional investors own 96.64% of the company's stock.

Innospec Price Performance

IOSP traded down $2.43 during trading on Friday, hitting $113.31. 80,842 shares of the stock traded hands, compared to its average volume of 102,702. The business has a 50 day moving average price of $111.26 and a 200 day moving average price of $119.91. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 19.24 and a beta of 1.07. Innospec Inc. has a twelve month low of $95.69 and a twelve month high of $133.71.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.02. The business had revenue of $435.00 million during the quarter, compared to the consensus estimate of $468.73 million. Innospec had a return on equity of 14.15% and a net margin of 7.90%. Innospec's revenue for the quarter was down 9.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 EPS. On average, equities research analysts predict that Innospec Inc. will post 5.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Innospec from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 8th.

Insider Activity

In related news, CFO Ian Cleminson sold 3,398 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the transaction, the chief financial officer now directly owns 12,996 shares in the company, valued at $1,491,161.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

About Innospec

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.