Arizona State Retirement System Trims Stock Holdings in Innospec Inc. (NASDAQ:IOSP)

Arizona State Retirement System cut its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,952 shares of the specialty chemicals company’s stock after selling 129 shares during the quarter. Arizona State Retirement System’s holdings in Innospec were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IOSP. JPMorgan Chase & Co. lifted its position in Innospec by 7.4% during the first quarter. JPMorgan Chase & Co. now owns 104,796 shares of the specialty chemicals company’s stock worth $9,699,000 after buying an additional 7,181 shares during the period. Bank of New York Mellon Corp increased its stake in Innospec by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 305,809 shares of the specialty chemicals company’s stock worth $28,302,000 after acquiring an additional 5,638 shares during the last quarter. American Century Companies Inc. increased its stake in Innospec by 20.3% during the first quarter. American Century Companies Inc. now owns 5,934 shares of the specialty chemicals company’s stock worth $549,000 after acquiring an additional 1,002 shares during the last quarter. Citigroup Inc. increased its stake in Innospec by 11.9% during the first quarter. Citigroup Inc. now owns 21,356 shares of the specialty chemicals company’s stock worth $1,976,000 after acquiring an additional 2,264 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Innospec by 8.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the specialty chemicals company’s stock worth $165,000 after acquiring an additional 141 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP David B. Jones sold 2,500 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $125.79, for a total value of $314,475.00. Following the completion of the sale, the senior vice president now owns 9,664 shares in the company, valued at $1,215,634.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Philip John Boon sold 3,715 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $122.07, for a total value of $453,490.05. Following the completion of the sale, the vice president now owns 18,516 shares in the company, valued at $2,260,248.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David B. Jones sold 2,500 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $125.79, for a total value of $314,475.00. Following the completion of the sale, the senior vice president now owns 9,664 shares of the company’s stock, valued at approximately $1,215,634.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,500 shares of company stock worth $4,532,959. 1.35% of the stock is currently owned by corporate insiders.

Innospec Price Performance

Shares of NASDAQ:IOSP opened at $120.52 on Thursday. The firm has a market capitalization of $3.01 billion, a PE ratio of 21.64 and a beta of 1.10. The business has a 50-day moving average of $124.17 and a two-hundred day moving average of $115.00. Innospec Inc. has a 12 month low of $91.74 and a 12 month high of $131.18.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, February 13th. The specialty chemicals company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.25. Innospec had a return on equity of 13.69% and a net margin of 7.14%. The business had revenue of $494.70 million during the quarter, compared to analyst estimates of $479.47 million. During the same quarter last year, the firm earned $1.20 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Innospec Inc. will post 6.72 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.