Allspring Global Investments Holdings LLC Acquires 105,311 Shares of Innospec Inc. (NASDAQ:IOSP)

Allspring Global Investments Holdings LLC increased its position in Innospec Inc. (NASDAQ:IOSP) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,405,770 shares of the specialty chemicals company’s stock after acquiring an additional 105,311 shares during the quarter. Allspring Global Investments Holdings LLC owned about 9.65% of Innospec worth $272,069,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Inspire Advisors LLC boosted its position in shares of Innospec by 1.6% in the second quarter. Inspire Advisors LLC now owns 6,819 shares of the specialty chemicals company’s stock valued at $843,000 after acquiring an additional 110 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Innospec by 0.9% in the first quarter. Illinois Municipal Retirement Fund now owns 14,185 shares of the specialty chemicals company’s stock valued at $1,829,000 after acquiring an additional 120 shares during the period. Arizona State Retirement System boosted its position in shares of Innospec by 1.9% in the second quarter. Arizona State Retirement System now owns 6,962 shares of the specialty chemicals company’s stock valued at $860,000 after acquiring an additional 128 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Innospec by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 21,891 shares of the specialty chemicals company’s stock valued at $2,706,000 after acquiring an additional 129 shares during the period. Finally, Bahl & Gaynor Inc. boosted its position in shares of Innospec by 0.4% in the first quarter. Bahl & Gaynor Inc. now owns 36,161 shares of the specialty chemicals company’s stock valued at $4,663,000 after acquiring an additional 160 shares during the period. 96.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Insiders Place Their Bets

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of Innospec stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the transaction, the chief financial officer now directly owns 12,996 shares of the company’s stock, valued at approximately $1,491,161.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.52% of the company’s stock.

Innospec Stock Performance

IOSP traded down $2.43 on Friday, reaching $113.31. The company had a trading volume of 80,842 shares, compared to its average volume of 102,702. The business has a 50 day simple moving average of $111.26 and a 200 day simple moving average of $119.95. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 19.24 and a beta of 1.07. Innospec Inc. has a 52-week low of $95.69 and a 52-week high of $133.71.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. The business had revenue of $435.00 million for the quarter, compared to the consensus estimate of $468.73 million. Innospec had a net margin of 7.90% and a return on equity of 14.15%. Innospec’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period last year, the firm posted $1.28 earnings per share. As a group, equities research analysts predict that Innospec Inc. will post 5.95 EPS for the current fiscal year.

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.