Innospec Inc. (NASDAQ:IOSP) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 452,159 shares of the specialty chemicals company's stock after selling 36,833 shares during the period. Invesco Ltd. owned approximately 1.81% of Innospec worth $49,765,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Polymer Capital Management US LLC purchased a new stake in shares of Innospec during the fourth quarter valued at $201,000. Envestnet Asset Management Inc. increased its holdings in shares of Innospec by 14.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,554 shares of the specialty chemicals company's stock valued at $3,033,000 after purchasing an additional 3,578 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Innospec by 7.1% in the fourth quarter. Wells Fargo & Company MN now owns 55,702 shares of the specialty chemicals company's stock valued at $6,131,000 after purchasing an additional 3,696 shares during the period. Huber Capital Management LLC raised its stake in shares of Innospec by 6.3% in the fourth quarter. Huber Capital Management LLC now owns 49,135 shares of the specialty chemicals company's stock worth $5,408,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Innospec during the fourth quarter worth about $2,242,000. Institutional investors and hedge funds own 96.64% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Innospec from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd.

Insider Buying and Selling

In other news, SVP Corbin Barnes sold 598 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88. Following the completion of the sale, the senior vice president now owns 8,051 shares of the company's stock, valued at $829,736.06. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Philip John Boon sold 3,754 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 transaction of $387,788.20. Following the completion of the sale, the vice president now directly owns 20,079 shares in the company, valued at $2,074,160.70. This trade 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 ninety days. Company insiders own 1.31% of the company's stock.

Innospec Stock Up 0.0 %

Shares of NASDAQ:IOSP traded up $0.04 during midday trading on Monday, reaching $85.96. The company's stock had a trading volume of 17,407 shares, compared to its average volume of 146,906. The stock has a fifty day moving average of $96.69 and a 200 day moving average of $107.76. Innospec Inc. has a twelve month low of $80.32 and a twelve month high of $133.71. The firm has a market capitalization of $2.16 billion, a PE ratio of 60.30 and a beta of 1.03.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec announced that its Board of Directors has authorized a share buyback 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 buy up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.