Innospec Inc. (NASDAQ:IOSP) Stock Holdings Cut by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its position in shares of Innospec Inc. (NASDAQ:IOSP) by 73.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,048 shares of the specialty chemicals company’s stock after selling 35,464 shares during the quarter. Edgestream Partners L.P. owned about 0.05% of Innospec worth $1,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of Innospec by 54.2% during the 4th 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 in the last quarter. KBC Group NV boosted its stake in shares of Innospec by 82.3% during the 4th 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 in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Innospec by 91.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock worth $198,000 after acquiring an additional 863 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Innospec during the 3rd quarter worth $215,000. Finally, Claro Advisors LLC bought a new stake in shares of Innospec during the 4th quarter worth $220,000. 96.64% of the stock is owned by institutional investors.

Innospec Stock Down 2.1 %

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

Innospec (NASDAQ:IOSP) last released its earnings results 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. The company had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. On average, equities research analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec announced that its Board of Directors has initiated a stock 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 purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, SVP Corbin Barnes sold 598 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $103.06, for a total value of $61,629.88. Following the completion of the sale, the senior vice president now owns 8,051 shares in the company, valued at $829,736.06. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Philip John Boon sold 3,754 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $103.30, for a total value 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 $2,074,160.70. The trade was a 15.75 % 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 quarter. Corporate insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

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

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.