Innospec Inc. $IOSP Position Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in Innospec Inc. (NASDAQ:IOSP) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 835,895 shares of the specialty chemicals company’s stock after selling 122,591 shares during the period. Victory Capital Management Inc. owned about 3.37% of Innospec worth $64,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baird Financial Group Inc. grew its position in Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 223 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Innospec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock worth $1,405,000 after acquiring an additional 645 shares during the last quarter. Millennium Management LLC raised its position in shares of Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after purchasing an additional 168,355 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Innospec by 37.4% during the first quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $433,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Innospec by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after purchasing an additional 8,014 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IOSP shares. Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Zacks Research lowered shares of Innospec from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Finally, Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Innospec currently has a consensus rating of “Reduce”.

Innospec Stock Performance

IOSP stock opened at $74.22 on Friday. The firm has a 50 day simple moving average of $80.97 and a 200 day simple moving average of $79.03. Innospec Inc. has a 52 week low of $70.10 and a 52 week high of $102.25. The stock has a market cap of $1.84 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.03 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The company had revenue of $455.60 million during the quarter, compared to the consensus estimate of $460.87 million. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Innospec Inc. will post 6.18 EPS for the current year.

Insider Transactions at Innospec

In other Innospec news, SVP David B. Jones sold 1,028 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $75.64, for a total value of $77,757.92. Following the transaction, the senior vice president owned 14,693 shares in the company, valued at $1,111,378.52. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Landless sold 594 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the sale, the director directly owned 7,632 shares of the company’s stock, valued at $584,305.92. This trade represents a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,989 shares of company stock worth $391,889 in the last ninety days. Company insiders own 1.31% of the company’s stock.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.