Innospec Inc. (NASDAQ:IOSP) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Innospec Inc. (NASDAQ:IOSP) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 237,616 shares of the specialty chemicals company’s stock after buying an additional 2,633 shares during the period. Bank of New York Mellon Corp’s holdings in Innospec were worth $26,152,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In other Innospec news, Director Milton C. Blackmore sold 652 shares of Innospec stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $67,351.60. Following the completion of the sale, the director now directly owns 8,376 shares in the company, valued at $865,240.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Philip John Boon sold 3,754 shares of Innospec stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $387,788.20. Following the sale, the vice president now owns 20,079 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 7,696 shares of company stock worth $794,853. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

Innospec Trading Up 1.1 %

Innospec stock opened at $100.62 on Monday. Innospec Inc. has a 12-month low of $97.13 and a 12-month high of $133.71. The stock has a market cap of $2.51 billion, a P/E ratio of 70.86 and a beta of 1.08. The company has a 50-day moving average price of $108.89 and a 200 day moving average price of $111.94.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.05. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The firm had revenue of $466.80 million during the quarter, compared to analysts’ expectations of $447.43 million. As a group, analysts forecast that Innospec Inc. will post 6.18 EPS for the current year.

Innospec Company 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.