Covestor Ltd Has $106,000 Position in Innospec Inc. (NASDAQ:IOSP)

Covestor Ltd increased its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 13.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 967 shares of the specialty chemicals company’s stock after buying an additional 118 shares during the period. Covestor Ltd’s holdings in Innospec were worth $106,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Innospec in the 4th quarter valued at about $106,000. Blue Trust Inc. lifted its stake in shares of Innospec by 54.2% in the fourth quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company’s stock worth $136,000 after acquiring an additional 422 shares during the period. KBC Group NV lifted its stake in shares of Innospec by 82.3% in the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock worth $136,000 after acquiring an additional 558 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Innospec by 91.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock valued at $198,000 after acquiring an additional 863 shares during the last quarter. Finally, Polymer Capital Management US LLC bought a new position in Innospec during the 4th quarter worth approximately $201,000. 96.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Innospec

In other Innospec news, SVP Corbin Barnes sold 2,692 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $278,083.60. Following the completion of the sale, the senior vice president now directly owns 8,051 shares in the company, valued at approximately $831,668.30. This trade represents a 25.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Philip John Boon sold 3,754 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $387,788.20. Following the transaction, the vice president now owns 20,079 shares in the company, valued at $2,074,160.70. This represents a 15.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,696 shares of company stock valued at $794,853. 1.52% of the stock is currently owned by company insiders.

Innospec Trading Up 1.1 %

Shares of IOSP opened at $87.47 on Friday. The firm’s fifty day simple moving average is $99.25 and its two-hundred day simple moving average is $108.70. Innospec Inc. has a 12 month low of $80.32 and a 12 month high of $133.71. The stock has a market capitalization of $2.20 billion, a P/E ratio of 61.60 and a beta of 1.03.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) 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 company had revenue of $466.80 million for the quarter, compared to the consensus estimate of $447.43 million. As a group, research analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec announced that its Board of Directors has approved a share repurchase plan on Monday, March 10th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Innospec from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd.

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.