Thrivent Financial for Lutherans Has $4.12 Million Stake in Innospec Inc. (NASDAQ:IOSP)

Thrivent Financial for Lutherans lessened its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 37.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,458 shares of the specialty chemicals company's stock after selling 22,144 shares during the period. Thrivent Financial for Lutherans owned approximately 0.15% of Innospec worth $4,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Cibc World Markets Corp acquired a new position in Innospec during the fourth quarter worth about $257,000. Vestcor Inc acquired a new stake in Innospec in the fourth quarter valued at approximately $236,000. Swiss National Bank grew its stake in shares of Innospec by 0.8% during the fourth quarter. Swiss National Bank now owns 49,103 shares of the specialty chemicals company's stock worth $5,404,000 after buying an additional 400 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Innospec by 12.6% during the fourth quarter. HighTower Advisors LLC now owns 3,494 shares of the specialty chemicals company's stock worth $385,000 after buying an additional 391 shares during the last quarter. Finally, Inspire Advisors LLC increased its holdings in shares of Innospec by 3.3% during the fourth quarter. Inspire Advisors LLC now owns 6,704 shares of the specialty chemicals company's stock worth $738,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Insider Activity at Innospec

In other Innospec news, VP Philip John Boon sold 3,754 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 20,079 shares of the company's stock, valued at approximately $2,074,160.70. This represents a 15.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Corbin Barnes sold 2,692 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $278,083.60. Following the completion of the transaction, the senior vice president now owns 8,051 shares in the company, valued at $831,668.30. This trade represents a 25.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,696 shares of company stock worth $794,853 over the last three months. Company insiders own 1.52% of the company's stock.

Innospec Stock Performance

Shares of NASDAQ:IOSP traded down $2.19 during midday trading on Friday, hitting $95.20. 123,563 shares of the stock were exchanged, compared to its average volume of 139,220. The business's 50-day moving average price is $105.47 and its 200 day moving average price is $110.52. Innospec Inc. has a 12 month low of $94.77 and a 12 month high of $133.71. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 67.04 and a beta of 1.08.

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

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

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Innospec from a "hold" rating to a "buy" rating in a research report on Monday, March 24th.

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.