Oppenheimer Asset Management Inc. Trims Holdings in Innospec Inc. (NASDAQ:IOSP)

Oppenheimer Asset Management Inc. trimmed its position in Innospec Inc. (NASDAQ:IOSP) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,396 shares of the specialty chemicals company’s stock after selling 1,538 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.07% of Innospec worth $2,025,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Innospec by 54.2% in the fourth quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company’s stock worth $136,000 after purchasing an additional 422 shares during the last quarter. KBC Group NV raised its position in Innospec by 82.3% during the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock valued at $136,000 after acquiring an additional 558 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Innospec during the third quarter valued at approximately $215,000. Claro Advisors LLC purchased a new position in Innospec during the fourth quarter valued at approximately $220,000. Finally, Raymond James Trust N.A. raised its position in Innospec by 7.9% during the third quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock valued at $238,000 after acquiring an additional 155 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Price Performance

Innospec stock opened at $103.41 on Monday. The stock has a market capitalization of $2.58 billion, a PE ratio of 72.82 and a beta of 1.09. Innospec Inc. has a 12 month low of $99.49 and a 12 month high of $133.71. The business has a 50 day simple moving average of $110.06 and a 200-day simple moving average of $112.29.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. The business had revenue of $466.80 million during the quarter, compared to analysts’ expectations of $447.43 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. On average, equities research analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Innospec from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th.

Insider Activity

In other news, SVP Corbin Barnes sold 598 shares of Innospec stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $103.06, for a total value of $61,629.88. Following the sale, the senior vice president now directly owns 8,051 shares of the company’s stock, valued at $829,736.06. The trade was a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Philip John Boon sold 3,754 shares of Innospec stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $103.30, for a total value 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 represents a 15.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,696 shares of company stock worth $794,853 over the last three months. 1.52% of the stock is currently owned by corporate insiders.

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.