Putnam Investments LLC Sells 233 Shares of Innospec Inc. (NASDAQ:IOSP)

Putnam Investments LLC lessened its holdings in Innospec Inc. (NASDAQ:IOSP – Get Rating) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,912 shares of the specialty chemicals company’s stock after selling 233 shares during the quarter. Putnam Investments LLC owned approximately 0.05% of Innospec worth $1,106,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Innospec by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,763,854 shares of the specialty chemicals company’s stock valued at $255,795,000 after purchasing an additional 47,348 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Innospec by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,197,212 shares of the specialty chemicals company’s stock valued at $102,565,000 after purchasing an additional 6,181 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Innospec by 4.1% in the 3rd quarter. Victory Capital Management Inc. now owns 973,752 shares of the specialty chemicals company’s stock valued at $83,421,000 after purchasing an additional 38,396 shares during the last quarter. State Street Corp boosted its stake in shares of Innospec by 1.9% in the 2nd quarter. State Street Corp now owns 911,808 shares of the specialty chemicals company’s stock valued at $87,342,000 after purchasing an additional 16,835 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its stake in shares of Innospec by 7.4% in the 1st quarter. Wasatch Advisors Inc. now owns 689,527 shares of the specialty chemicals company’s stock valued at $63,816,000 after purchasing an additional 47,327 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

Innospec Price Performance

Innospec stock opened at $99.30 on Tuesday. The company’s 50 day simple moving average is $109.61 and its 200 day simple moving average is $102.31. Innospec Inc. has a fifty-two week low of $83.13 and a fifty-two week high of $116.00. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 18.67 and a beta of 1.17.

Innospec (NASDAQ:IOSP – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The specialty chemicals company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.17). Innospec had a return on equity of 14.14% and a net margin of 6.77%. The firm had revenue of $510.70 million for the quarter, compared to the consensus estimate of $485.73 million. During the same period in the previous year, the business earned $1.30 EPS. The firm’s revenue was up 23.6% compared to the same quarter last year. As a group, analysts predict that Innospec Inc. will post 5.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Innospec news, VP Philip John Boon sold 6,491 shares of Innospec stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $105.62, for a total value of $685,579.42. Following the transaction, the vice president now owns 18,748 shares of the company’s stock, valued at $1,980,163.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Innospec news, VP Philip John Boon sold 6,491 shares of Innospec stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $105.62, for a total value of $685,579.42. Following the transaction, the vice president now owns 18,748 shares of the company’s stock, valued at $1,980,163.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Patrick Williams sold 9,146 shares of Innospec stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $111.20, for a total transaction of $1,017,035.20. Following the completion of the transaction, the chief executive officer now directly owns 174,333 shares in the company, valued at approximately $19,385,829.60. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 2,159 shares of company stock valued at $232,629 and have sold 51,444 shares valued at $5,586,546. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 3rd.

About Innospec

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Innospec, Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care, and other specialty chemicals. It operates through the following segments: Fuel Specialties, Performance Chemicals, and Oilfield Services. The Fuel Specialties segment develops, manufactures, blends, markets, and supplies a range of specialty chemical products used as additives to a range of fuels.