Innospec Inc. (NASDAQ:IOSP) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in shares of Innospec Inc. (NASDAQ:IOSP) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,233 shares of the specialty chemicals company’s stock after selling 406 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Innospec worth $1,609,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Innospec by 98.4% in the second quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after purchasing an additional 59,554 shares during the period. BNP Paribas Financial Markets raised its stake in Innospec by 33.1% during the first quarter. BNP Paribas Financial Markets now owns 25,063 shares of the specialty chemicals company’s stock worth $3,232,000 after acquiring an additional 6,237 shares during the period. Vanguard Group Inc. raised its stake in Innospec by 5.5% during the first quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after acquiring an additional 161,249 shares during the period. Sei Investments Co. boosted its stake in Innospec by 4.9% in the first quarter. Sei Investments Co. now owns 138,788 shares of the specialty chemicals company’s stock valued at $17,895,000 after acquiring an additional 6,532 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Innospec by 660.1% in the second quarter. SG Americas Securities LLC now owns 9,767 shares of the specialty chemicals company’s stock valued at $1,207,000 after acquiring an additional 8,482 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Innospec from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th.

Innospec Stock Performance

Innospec stock opened at $108.39 on Friday. Innospec Inc. has a one year low of $97.54 and a one year high of $133.71. The company has a 50-day simple moving average of $111.27 and a 200-day simple moving average of $118.97. The firm has a market capitalization of $2.70 billion, a P/E ratio of 18.16 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.37 by $0.02. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The company had revenue of $435.00 million for the quarter, compared to analyst estimates of $468.73 million. During the same quarter last year, the business earned $1.28 earnings per share. Innospec’s revenue was down 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Innospec Inc. will post 5.92 earnings per share for the current year.

Insider Buying and Selling at Innospec

In other news, CFO Ian Cleminson sold 6,602 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $113.60, for a total transaction of $749,987.20. Following the transaction, the chief financial officer now directly owns 16,394 shares of the company’s stock, valued at approximately $1,862,358.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is owned by company insiders.

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.