Allspring Global Investments Holdings LLC Sells 62,684 Shares of Innospec Inc. (NASDAQ:IOSP)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,337,644 shares of the specialty chemicals company's stock after selling 62,684 shares during the period. Allspring Global Investments Holdings LLC owned 9.40% of Innospec worth $288,091,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Innospec by 8.7% during the 3rd quarter. Sei Investments Co. now owns 128,506 shares of the specialty chemicals company's stock worth $13,133,000 after buying an additional 10,268 shares during the period. AMG National Trust Bank purchased a new stake in shares of Innospec in the third quarter worth approximately $907,000. Assenagon Asset Management S.A. purchased a new stake in shares of Innospec in the third quarter worth approximately $1,207,000. Charles Schwab Investment Management Inc. raised its stake in shares of Innospec by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 298,635 shares of the specialty chemicals company's stock worth $30,520,000 after purchasing an additional 12,135 shares during the last quarter. Finally, Diversified Trust Co raised its stake in shares of Innospec by 1.7% in the fourth quarter. Diversified Trust Co now owns 11,154 shares of the specialty chemicals company's stock worth $1,375,000 after purchasing an additional 185 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP David B. Jones sold 2,500 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $125.79, for a total value of $314,475.00. Following the completion of the transaction, the senior vice president now directly owns 9,664 shares of the company's stock, valued at $1,215,634.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Innospec news, SVP David B. Jones sold 2,500 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $125.79, for a total transaction of $314,475.00. Following the completion of the transaction, the senior vice president now directly owns 9,664 shares of the company's stock, valued at $1,215,634.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Hardy Louis Griffin III sold 1,875 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $122.07, for a total value of $228,881.25. Following the transaction, the senior vice president now directly owns 5,000 shares of the company's stock, valued at $610,350. The disclosure for this sale can be found here. Insiders sold a total of 36,500 shares of company stock valued at $4,532,959 over the last three months. Corporate insiders own 1.35% of the company's stock.

Innospec Stock Performance

Shares of Innospec stock traded down $0.42 on Monday, hitting $124.35. The company had a trading volume of 55,135 shares, compared to its average volume of 92,202. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 22.32 and a beta of 1.10. Innospec Inc. has a 1 year low of $91.74 and a 1 year high of $131.18. The stock has a 50 day moving average of $123.34 and a 200-day moving average of $114.07.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The specialty chemicals company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.59 by $0.25. The firm had revenue of $494.70 million during the quarter, compared to the consensus estimate of $479.47 million. Innospec had a return on equity of 13.69% and a net margin of 7.14%. The company's quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 earnings per share. Equities analysts anticipate that Innospec Inc. will post 6.72 earnings per share for the current year.

About Innospec

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.

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