Sei Investments Co. Trims Holdings in Innospec Inc. (NASDAQ:IOSP)

Sei Investments Co. reduced its position in shares of Innospec Inc. (NASDAQ:IOSP) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,173 shares of the specialty chemicals company’s stock after selling 5,606 shares during the period. Sei Investments Co. owned about 0.56% of Innospec worth $15,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Innospec during the 3rd quarter valued at $254,000. Intech Investment Management LLC lifted its stake in Innospec by 98.1% during the third quarter. Intech Investment Management LLC now owns 6,500 shares of the specialty chemicals company’s stock valued at $735,000 after purchasing an additional 3,219 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Innospec by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock worth $38,057,000 after buying an additional 11,479 shares in the last quarter. Raymond James Trust N.A. grew its position in Innospec by 7.9% in the third quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock worth $238,000 after buying an additional 155 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Innospec by 46.1% in the third quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock valued at $3,641,000 after buying an additional 10,162 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Innospec Stock Down 2.2 %

Shares of NASDAQ:IOSP opened at $95.20 on Friday. Innospec Inc. has a 12-month low of $94.77 and a 12-month high of $133.71. The firm has a market capitalization of $2.38 billion, a P/E ratio of 67.04 and a beta of 1.08. The firm has a fifty day moving average of $105.47 and a two-hundred day moving average of $110.49.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.36 by $0.05. The firm had revenue of $466.80 million for the quarter, compared to the consensus estimate of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. Equities research analysts expect 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 authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insider Activity at Innospec

In other Innospec news, SVP Corbin Barnes sold 598 shares of Innospec stock in a transaction on Monday, February 24th. The stock was sold at an average price of $103.06, for a total transaction of $61,629.88. Following the completion of the transaction, the senior vice president now directly owns 8,051 shares of the company’s stock, valued at approximately $829,736.06. This trade represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Philip John Boon sold 3,754 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $387,788.20. Following the sale, the vice president now directly owns 20,079 shares in the company, valued at $2,074,160.70. This represents a 15.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,696 shares of company stock valued at $794,853 over the last quarter. 1.52% of the stock is owned by company 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.