BlackRock Inc. Purchases 72,441 Shares of Innospec Inc. (IOSP)
BlackRock Inc. grew its position in shares of Innospec Inc. (NASDAQ:IOSP) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,993,716 shares of the specialty chemicals company’s stock after purchasing an additional 72,441 shares during the quarter. BlackRock Inc. owned approximately 16.35% of Innospec worth $246,650,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in IOSP. LS Investment Advisors LLC boosted its stake in shares of Innospec by 173.5% during the fourth quarter. LS Investment Advisors LLC now owns 1,972 shares of the specialty chemicals company’s stock valued at $122,000 after purchasing an additional 1,251 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Innospec by 27.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,986 shares of the specialty chemicals company’s stock valued at $123,000 after purchasing an additional 428 shares in the last quarter. Eukles Asset Management acquired a new position in shares of Innospec in the fourth quarter worth approximately $127,000. GSA Capital Partners LLP acquired a new position in shares of Innospec in the third quarter worth approximately $213,000. Finally, Diversified Trust Co lifted its stake in shares of Innospec by 6.0% in the fourth quarter. Diversified Trust Co now owns 3,550 shares of the specialty chemicals company’s stock worth $219,000 after acquiring an additional 200 shares during the period. 93.00% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. BidaskClub lowered Innospec from a “strong-buy” rating to a “buy” rating in a research note on Friday. Zacks Investment Research raised Innospec from a “hold” rating to a “strong-buy” rating and set a $94.00 price objective on the stock in a research note on Friday, March 1st. Finally, ValuEngine lowered Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $88.50.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 19th. The specialty chemicals company reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.27. The company had revenue of $395.00 million for the quarter. Innospec had a return on equity of 14.34% and a net margin of 5.76%. Equities analysts predict that Innospec Inc. will post 5 earnings per share for the current fiscal year.
In other Innospec news, CEO Patrick Williams sold 6,525 shares of Innospec stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $83.18, for a total value of $542,749.50. Following the completion of the sale, the chief executive officer now directly owns 186,579 shares in the company, valued at $15,519,641.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Catherine Hessner sold 4,289 shares of Innospec stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $80.51, for a total value of $345,307.39. Following the completion of the sale, the vice president now owns 25,145 shares of the company’s stock, valued at $2,024,423.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,984 shares of company stock worth $2,382,501. 2.22% of the stock is owned by insiders.
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Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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