Innospec Inc. $IOSP Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Innospec Inc. (NASDAQ:IOSP) by 12.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,935 shares of the specialty chemicals company’s stock after selling 17,281 shares during the quarter. Principal Financial Group Inc.’s holdings in Innospec were worth $9,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Innospec in the second quarter valued at approximately $28,000. Versant Capital Management Inc raised its position in Innospec by 378.1% in the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 431 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 487 shares during the period. Blue Trust Inc. grew its position in Innospec by 38.3% during the 2nd quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 186 shares during the last quarter. Finally, State of Wyoming grew its position in Innospec by 27.5% during the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock worth $67,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Innospec in a report on Monday, December 22nd. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Innospec has a consensus rating of “Reduce”.

Innospec Stock Down 1.7%

NASDAQ IOSP opened at $86.88 on Friday. Innospec Inc. has a 52-week low of $70.10 and a 52-week high of $112.74. The firm has a 50-day moving average price of $80.19 and a 200 day moving average price of $79.13. The stock has a market capitalization of $2.15 billion, a P/E ratio of -2,896.00 and a beta of 0.91.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.