Sei Investments Co. Has $15.32 Million Position in Innospec Inc. (NASDAQ:IOSP)

Sei Investments Co. lessened its stake in Innospec Inc. (NASDAQ:IOSP) by 3.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 139,173 shares of the specialty chemicals company’s stock after selling 5,606 shares during the quarter. Sei Investments Co.’s holdings in Innospec were worth $15,317,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Innospec by 8.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company’s stock valued at $206,000 after buying an additional 151 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Innospec by 5.2% during the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock worth $350,000 after purchasing an additional 154 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Innospec by 7.9% during the third quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock worth $238,000 after purchasing an additional 155 shares during the period. New York State Teachers Retirement System raised its position in shares of Innospec by 1.4% in the fourth quarter. New York State Teachers Retirement System now owns 14,981 shares of the specialty chemicals company’s stock valued at $1,649,000 after buying an additional 200 shares in the last quarter. Finally, Inspire Advisors LLC raised its holdings in Innospec by 3.3% in the 4th quarter. Inspire Advisors LLC now owns 6,704 shares of the specialty chemicals company’s stock valued at $738,000 after acquiring an additional 213 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Stock Performance

Innospec stock opened at $95.20 on Friday. The firm has a 50 day moving average price of $105.47 and a two-hundred day moving average price of $110.49. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 67.04 and a beta of 1.08. Innospec Inc. has a 52-week low of $94.77 and a 52-week high of $133.71.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. The company had revenue of $466.80 million for 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%. As a group, equities research analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec declared that its Board of Directors has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Innospec from a “hold” rating to a “buy” rating in a research note on Monday, March 24th.

Insider Activity at Innospec

In other news, SVP Corbin Barnes sold 2,692 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $278,083.60. Following the completion of the sale, the senior vice president now directly owns 8,051 shares in the company, valued at approximately $831,668.30. The trade was a 25.06 % 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 the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $387,788.20. Following the completion of the transaction, the vice president now owns 20,079 shares in the company, valued at $2,074,160.70. This represents a 15.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,696 shares of company stock worth $794,853. Corporate insiders own 1.52% of the company’s stock.

Innospec 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.