BlackRock Institutional Trust Company N.A. cut its position in Innospec Inc. (NASDAQ:IOSP) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 623,863 shares of the company’s stock after selling 5,907 shares during the period. BlackRock Institutional Trust Company N.A. owned approximately 2.60% of Innospec worth $27,051,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Innospec by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,120,831 shares of the company’s stock worth $60,873,000 after buying an additional 102,451 shares in the last quarter. WBI Investments Inc. purchased a new position in Innospec during the fourth quarter worth approximately $6,179,000. Bailard Inc. purchased a new position in Innospec during the fourth quarter worth approximately $1,157,000. Schroder Investment Management Group purchased a new position in Innospec during the fourth quarter worth approximately $8,255,000. Finally, Principal Financial Group Inc. increased its position in Innospec by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 164,177 shares of the company’s stock worth $8,916,000 after buying an additional 6,875 shares in the last quarter.
Shares of Innospec Inc. (NASDAQ:IOSP) traded down 0.14% during midday trading on Wednesday, reaching $50.36. The company’s stock had a trading volume of 66,171 shares. The company has a 50-day moving average price of $48.03 and a 200-day moving average price of $46.85. Innospec Inc. has a 12 month low of $41.15 and a 12 month high of $59.52. The firm has a market cap of $1.21 billion and a price-to-earnings ratio of 10.24.
A number of research firms recently commented on IOSP. Zacks Investment Research upgraded Innospec from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Friday, May 6th. KeyCorp upgraded Innospec from a “sector weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a report on Tuesday, April 5th.
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
