Allspring Global Investments Holdings LLC Sells 35,246 Shares of Innospec Inc. $IOSP

Allspring Global Investments Holdings LLC decreased its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,356,503 shares of the specialty chemicals company’s stock after selling 35,246 shares during the quarter. Allspring Global Investments Holdings LLC owned about 9.51% of Innospec worth $179,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Wedge Capital Management L L P NC lifted its position in shares of Innospec by 20.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 19,699 shares of the specialty chemicals company’s stock valued at $1,508,000 after acquiring an additional 3,354 shares during the period. SG Americas Securities LLC increased its stake in Innospec by 291.0% in the fourth quarter. SG Americas Securities LLC now owns 75,814 shares of the specialty chemicals company’s stock valued at $5,803,000 after purchasing an additional 56,425 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Innospec by 37.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 178,204 shares of the specialty chemicals company’s stock valued at $13,640,000 after purchasing an additional 48,807 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Innospec by 25.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,223 shares of the specialty chemicals company’s stock valued at $725,000 after purchasing an additional 1,892 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Innospec by 31.0% during the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Insiders Place Their Bets

In other Innospec news, Director Larry Padfield sold 594 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the transaction, the director owned 9,453 shares of the company’s stock, valued at approximately $723,721.68. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David B. Jones sold 1,028 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $75.64, for a total value of $77,757.92. Following the completion of the transaction, the senior vice president owned 14,693 shares of the company’s stock, valued at $1,111,378.52. This trade represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 4,989 shares of company stock valued at $391,889. 1.31% of the stock is owned by insiders.

Innospec Stock Performance

Shares of IOSP stock opened at $73.19 on Tuesday. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.90 and a beta of 0.90. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $96.38. The company has a 50-day simple moving average of $77.77 and a two-hundred day simple moving average of $77.03.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. The firm had revenue of $455.60 million for the quarter, compared to the consensus estimate of $460.87 million. Innospec had a return on equity of 10.18% and a net margin of 6.56%.The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 EPS. On average, sell-side analysts forecast that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.