Segall Bryant & Hamill LLC Has $11.08 Million Stock Position in Innospec Inc. (NASDAQ:IOSP)

Segall Bryant & Hamill LLC grew its stake in Innospec Inc. (NASDAQ:IOSP) by 18.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 100,675 shares of the specialty chemicals company’s stock after buying an additional 15,925 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Innospec were worth $11,080,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Innospec by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock worth $38,057,000 after purchasing an additional 11,479 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Innospec by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock valued at $30,160,000 after purchasing an additional 52,640 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Innospec by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 237,616 shares of the specialty chemicals company’s stock worth $26,152,000 after buying an additional 2,633 shares during the period. HighTower Advisors LLC grew its holdings in shares of Innospec by 5.2% during the third 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. Finally, Citigroup Inc. raised its position in Innospec by 46.1% in the 3rd quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock valued at $3,641,000 after buying an additional 10,162 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Milton C. Blackmore sold 652 shares of Innospec stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $67,351.60. Following the completion of the transaction, the director now owns 8,376 shares of the company’s stock, valued at $865,240.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Corbin Barnes sold 598 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88. Following the completion of the sale, the senior vice president now directly owns 8,051 shares in the company, valued at approximately $829,736.06. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,696 shares of company stock valued at $794,853 in the last 90 days. 1.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Innospec from a “hold” rating to a “buy” rating in a research report on Monday.

Innospec Trading Down 0.9 %

Innospec stock opened at $97.36 on Wednesday. The company has a fifty day simple moving average of $106.46 and a 200 day simple moving average of $110.75. Innospec Inc. has a 1-year low of $95.17 and a 1-year high of $133.71. The company has a market cap of $2.43 billion, a P/E ratio of 68.56 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, beating 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 company had revenue of $466.80 million during the quarter, compared to analysts’ expectations of $447.43 million. On average, equities research analysts forecast that Innospec Inc. will post 6.18 EPS for the current year.

Innospec announced that its board has initiated a stock repurchase plan on Monday, March 10th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

About Innospec

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.