Innospec Inc. (NASDAQ:IOSP) Position Lessened by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its position in shares of Innospec Inc. (NASDAQ:IOSP) by 73.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 13,048 shares of the specialty chemicals company’s stock after selling 35,464 shares during the quarter. Edgestream Partners L.P.’s holdings in Innospec were worth $1,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IOSP. HighTower Advisors LLC raised its holdings in Innospec by 5.2% during the third quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock valued at $350,000 after buying an additional 154 shares in the last quarter. Raymond James Trust N.A. raised its holdings in 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 valued at $238,000 after buying an additional 155 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Innospec by 0.3% during the third quarter. Thrivent Financial for Lutherans now owns 59,602 shares of the specialty chemicals company’s stock valued at $6,740,000 after buying an additional 195 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Innospec by 1.4% during 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, Hudson Edge Investment Partners Inc. raised its holdings in Innospec by 4.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 4,923 shares of the specialty chemicals company’s stock valued at $542,000 after buying an additional 230 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Price Performance

NASDAQ IOSP opened at $98.54 on Tuesday. Innospec Inc. has a fifty-two week low of $97.13 and a fifty-two week high of $133.71. The stock’s 50-day moving average is $108.89 and its two-hundred day moving average is $111.94. The firm has a market cap of $2.46 billion, a P/E ratio of 69.39 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last issued its quarterly 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. The company had revenue of $466.80 million for the quarter, compared to the consensus estimate of $447.43 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. On average, equities analysts expect that Innospec Inc. will post 6.18 EPS for the current year.

Innospec announced that its board has authorized a share repurchase plan on Monday, March 10th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Separately, StockNews.com upgraded Innospec from a “hold” rating to a “buy” rating in a report on Thursday, March 6th.

Insider Activity

In other news, SVP Corbin Barnes sold 2,692 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $278,083.60. Following the sale, the senior vice president now directly owns 8,051 shares of the company’s stock, valued at approximately $831,668.30. This trade represents a 25.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Milton C. Blackmore sold 652 shares of the firm’s 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 sale, the director now directly owns 8,376 shares in the company, valued at approximately $865,240.80. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,696 shares of company stock valued at $794,853. 1.52% of the stock is owned by insiders.

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.