Innospec Inc. (NASDAQ:IOSP) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 14.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 27,554 shares of the specialty chemicals company's stock after buying an additional 3,578 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Innospec worth $3,033,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Innospec by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company's stock valued at $30,160,000 after purchasing an additional 52,640 shares during the period. Bank of New York Mellon Corp raised its position in shares of Innospec by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 237,616 shares of the specialty chemicals company's stock worth $26,152,000 after purchasing an additional 2,633 shares during the period. Barclays PLC lifted its holdings in shares of Innospec by 357.1% during the third quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company's stock valued at $5,039,000 after purchasing an additional 34,811 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Innospec by 63.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,152 shares of the specialty chemicals company's stock valued at $377,000 after purchasing an additional 1,225 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Innospec by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 129,448 shares of the specialty chemicals company's stock worth $14,247,000 after acquiring an additional 4,376 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Innospec news, 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 transaction, the vice president now owns 20,079 shares of the company's stock, valued at $2,074,160.70. The trade was a 15.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Milton C. Blackmore sold 652 shares of the company'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 $67,351.60. Following the sale, the director now owns 8,376 shares in the company, valued at approximately $865,240.80. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,696 shares of company stock valued at $794,853 in the last quarter. 1.31% of the stock is currently owned by insiders.

Innospec Price Performance

IOSP stock traded up $0.79 during trading hours on Thursday, reaching $90.27. The stock had a trading volume of 12,312 shares, compared to its average volume of 149,695. The stock has a market capitalization of $2.27 billion, a PE ratio of 63.64 and a beta of 1.03. Innospec Inc. has a fifty-two week low of $80.32 and a fifty-two week high of $133.71. The stock has a 50-day simple moving average of $93.82 and a 200 day simple moving average of $106.56.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.05. The firm had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. On average, sell-side analysts forecast that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec declared that its Board of Directors has initiated a stock buyback program on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IOSP shares. Seaport Res Ptn upgraded Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. StockNews.com raised shares of Innospec from a "hold" rating to a "buy" rating in a research note on Monday.

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.