Keybank National Association OH Increases Stake in Innospec Inc. (NASDAQ:IOSP)

Keybank National Association OH lifted its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,429 shares of the specialty chemicals company’s stock after purchasing an additional 326 shares during the quarter. Keybank National Association OH’s holdings in Innospec were worth $598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Innospec by 54.2% during the 4th 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 period. KBC Group NV grew its stake in shares of Innospec by 82.3% during the 4th quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock worth $136,000 after purchasing an additional 558 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Innospec by 91.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock worth $198,000 after purchasing an additional 863 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Innospec during the 3rd quarter worth $215,000. Finally, Claro Advisors LLC acquired a new position in shares of Innospec during the 4th quarter worth $220,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Innospec

In related news, SVP Corbin Barnes sold 598 shares of the stock in a transaction dated Monday, February 24th. The shares were 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 approximately $829,736.06. This represents a 6.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Philip John Boon sold 3,754 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $387,788.20. Following 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. In the last three months, insiders have sold 7,696 shares of company stock valued at $794,853. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Innospec from a “hold” rating to a “buy” rating in a research note on Thursday.

Innospec Trading Up 1.1 %

Shares of NASDAQ IOSP opened at $100.62 on Friday. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 70.86 and a beta of 1.08. Innospec Inc. has a 52 week low of $97.13 and a 52 week high of $133.71. The company’s 50-day moving average price is $108.89 and its 200 day moving average price is $111.92.

Innospec (NASDAQ:IOSP) last issued 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 firm had revenue of $466.80 million for the quarter, compared to analysts’ expectations of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. As a group, research analysts expect that Innospec Inc. will post 6.18 earnings per share for the current 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.