Barclays PLC Raises Stock Position in Innospec Inc. (NASDAQ:IOSP)

Barclays PLC raised its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,660 shares of the specialty chemicals company’s stock after purchasing an additional 1,101 shares during the period. Barclays PLC’s holdings in Innospec were worth $5,026,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in Innospec by 1.6% in the 4th quarter. Victory Capital Management Inc. now owns 922,220 shares of the specialty chemicals company’s stock worth $101,500,000 after buying an additional 14,188 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Innospec by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company’s stock valued at $76,184,000 after acquiring an additional 14,788 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Innospec in the fourth quarter worth approximately $53,457,000. Charles Schwab Investment Management Inc. increased its position in shares of Innospec by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 352,577 shares of the specialty chemicals company’s stock worth $38,805,000 after purchasing an additional 16,055 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Innospec by 17.3% in the 4th quarter. JPMorgan Chase & Co. now owns 312,880 shares of the specialty chemicals company’s stock valued at $34,436,000 after purchasing an additional 46,192 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Stock Performance

NASDAQ:IOSP opened at $89.79 on Friday. Innospec Inc. has a one year low of $80.32 and a one year high of $133.71. The stock has a market cap of $2.26 billion, a PE ratio of 63.23 and a beta of 1.03. The stock has a 50 day moving average price of $94.61 and a 200 day moving average price of $107.00.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) 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. As a group, analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec declared that its board has authorized a stock 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 generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on IOSP shares. Seaport Res Ptn raised shares of Innospec from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st. StockNews.com cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd.

Insider Buying and Selling at Innospec

In other news, SVP Corbin Barnes sold 598 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $103.06, for a total value of $61,629.88. Following the transaction, the senior vice president now directly owns 8,051 shares in the company, valued at approximately $829,736.06. This represents a 6.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Philip John Boon sold 3,754 shares of Innospec stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction 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. This trade represents a 15.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,696 shares of company stock worth $794,853 over the last quarter. 1.31% of the stock is currently owned by company insiders.

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.