Innospec Inc. (NASDAQ:IOSP) Holdings Raised by Moran Wealth Management LLC

Moran Wealth Management LLC lifted its stake in Innospec Inc. (NASDAQ:IOSP) by 1.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,164 shares of the specialty chemicals company’s stock after purchasing an additional 552 shares during the quarter. Moran Wealth Management LLC’s holdings in Innospec were worth $5,301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IOSP. US Bancorp DE boosted its position in shares of Innospec by 323.6% in the 3rd quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock valued at $621,000 after purchasing an additional 4,194 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Innospec by 23.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,286 shares of the specialty chemicals company’s stock valued at $258,000 after purchasing an additional 438 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Innospec by 17.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 17,409 shares of the specialty chemicals company’s stock valued at $1,969,000 after purchasing an additional 2,625 shares during the period. Victory Capital Management Inc. boosted its position in shares of Innospec by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock valued at $102,689,000 after purchasing an additional 41,449 shares during the period. Finally, Royce & Associates LP lifted its stake in Innospec by 9.3% in the 3rd quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after acquiring an additional 70,902 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Price Performance

IOSP opened at $98.54 on Tuesday. Innospec Inc. has a fifty-two week low of $97.13 and a fifty-two week high of $133.71. The business has a 50-day moving average of $108.89 and a 200-day moving average of $111.94. The company has a market capitalization of $2.46 billion, a PE ratio of 69.39 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The business had revenue of $466.80 million for the quarter, compared to the consensus estimate of $447.43 million. On average, equities research analysts expect that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec announced that its Board of Directors has authorized a stock buyback program on Monday, March 10th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the specialty chemicals company to buy up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Separately, StockNews.com raised Innospec from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

Insider Activity at Innospec

In other news, VP Philip John Boon sold 3,754 shares of Innospec 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 $387,788.20. Following the sale, the vice president now owns 20,079 shares of the company’s stock, valued at approximately $2,074,160.70. This trade represents a 15.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Milton C. Blackmore sold 652 shares of Innospec 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 $67,351.60. Following the sale, the director now directly owns 8,376 shares in the company, valued at $865,240.80. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,696 shares of company stock valued at $794,853. Corporate insiders own 1.52% of the company’s stock.

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.