Intech Investment Management LLC Acquires 10,345 Shares of Innospec Inc. (NASDAQ:IOSP)

Intech Investment Management LLC increased its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 159.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,845 shares of the specialty chemicals company’s stock after acquiring an additional 10,345 shares during the period. Intech Investment Management LLC’s holdings in Innospec were worth $1,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Innospec by 8.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 151 shares during the period. HighTower Advisors LLC raised its holdings in shares of Innospec by 5.2% in the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock worth $350,000 after buying an additional 154 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Innospec by 7.9% during the 3rd quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock worth $238,000 after buying an additional 155 shares during the period. Thrivent Financial for Lutherans boosted its stake in Innospec by 0.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 59,602 shares of the specialty chemicals company’s stock valued at $6,740,000 after buying an additional 195 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in Innospec by 1.4% in the fourth quarter. New York State Teachers Retirement System now owns 14,981 shares of the specialty chemicals company’s stock valued at $1,649,000 after acquiring an additional 200 shares during the period. Institutional investors own 96.64% of the company’s stock.

Insider Transactions at Innospec

In other news, Director Milton C. Blackmore sold 652 shares of the stock in a transaction 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 transaction, the director now owns 8,376 shares of the company’s stock, valued at $865,240.80. This represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the vice president now directly owns 20,079 shares in the company, valued at $2,074,160.70. The trade was a 15.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,696 shares of company stock worth $794,853. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Innospec from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Innospec Stock Down 0.2 %

NASDAQ:IOSP opened at $98.42 on Friday. The firm has a market cap of $2.46 billion, a PE ratio of 69.31 and a beta of 1.08. Innospec Inc. has a 12 month low of $96.39 and a 12 month high of $133.71. The company’s 50-day moving average price is $107.12 and its two-hundred day moving average price is $111.02.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, topping the consensus estimate 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, research analysts expect that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec declared that its board has initiated a share buyback program on Monday, March 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the specialty chemicals company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.