Teacher Retirement System of Texas Sells 3,360 Shares of Innospec Inc. (NASDAQ:IOSP)

Teacher Retirement System of Texas cut its holdings in Innospec Inc. (NASDAQ:IOSP - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,981 shares of the specialty chemicals company's stock after selling 3,360 shares during the period. Teacher Retirement System of Texas owned 0.23% of Innospec worth $6,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IOSP. Wasatch Advisors LP lifted its holdings in shares of Innospec by 0.6% in the third quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company's stock worth $204,189,000 after buying an additional 11,231 shares in the last quarter. State Street Corp lifted its stake in Innospec by 2.1% in the 3rd quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company's stock worth $112,669,000 after purchasing an additional 20,744 shares in the last quarter. Victory Capital Management Inc. boosted 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 valued at $101,500,000 after purchasing an additional 14,188 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Innospec by 3.8% during the third quarter. Geode Capital Management LLC now owns 677,283 shares of the specialty chemicals company's stock valued at $76,606,000 after purchasing an additional 24,843 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Innospec in the fourth quarter worth about $53,457,000. 96.64% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Innospec news, VP Philip John Boon sold 3,754 shares of Innospec stock in a transaction on Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $387,788.20. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Corbin Barnes sold 598 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $103.06, for a total transaction of $61,629.88. Following the completion of the sale, the senior vice president now owns 8,051 shares of the company's stock, valued at $829,736.06. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,696 shares of company stock worth $794,853. Corporate insiders own 1.52% of the company's stock.

Innospec Trading Down 0.9 %

Shares of IOSP stock traded down $0.85 on Thursday, reaching $97.39. The company's stock had a trading volume of 159,344 shares, compared to its average volume of 129,718. The stock's fifty day simple moving average is $106.17 and its 200-day simple moving average is $110.66. Innospec Inc. has a 1 year low of $95.17 and a 1 year high of $133.71. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 68.58 and a beta of 1.08.

Innospec (NASDAQ:IOSP - Get Free Report) last issued 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. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The business had revenue of $466.80 million during the quarter, compared to analysts' expectations of $447.43 million. Equities research analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec announced that its Board of Directors has authorized a stock repurchase program on Monday, March 10th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Separately, StockNews.com raised Innospec from a "hold" rating to a "buy" rating in a research note on Monday.

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.