Victory Capital Management Inc. Sells 122,591 Shares of Innospec Inc. $IOSP

Victory Capital Management Inc. reduced its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 12.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 835,895 shares of the specialty chemicals company’s stock after selling 122,591 shares during the period. Victory Capital Management Inc.’s holdings in Innospec were worth $64,498,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in Innospec by 8.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,917 shares of the specialty chemicals company’s stock valued at $148,000 after purchasing an additional 155 shares during the last quarter. State of Wyoming grew its stake in Innospec by 27.5% in the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after buying an additional 173 shares during the last quarter. California State Teachers Retirement System raised its holdings in Innospec by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock worth $1,939,000 after acquiring an additional 179 shares during the period. Baird Financial Group Inc. lifted its position in Innospec by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after acquiring an additional 223 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in Innospec by 8.2% during the third quarter. Diversified Trust Co now owns 3,798 shares of the specialty chemicals company’s stock valued at $293,000 after acquiring an additional 288 shares during the period. 96.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Innospec

In related news, Director Larry Padfield sold 594 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $76.56, for a total transaction of $45,476.64. Following the completion of the transaction, the director owned 9,453 shares in the company, valued at $723,721.68. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Milton C. Blackmore sold 594 shares of the 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 10,530 shares of the company’s stock, valued at $806,176.80. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 4,989 shares of company stock worth $391,889. Insiders own 1.31% of the company’s stock.

Innospec Trading Down 3.6%

Shares of IOSP stock opened at $74.22 on Friday. Innospec Inc. has a 12 month low of $70.10 and a 12 month high of $102.25. The company has a market capitalization of $1.84 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.03 and a beta of 0.90. The stock has a 50 day moving average of $80.97 and a two-hundred day moving average of $79.03.

Innospec (NASDAQ:IOSP) last posted its quarterly 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. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The firm had revenue of $455.60 million for the quarter, compared to the consensus estimate of $460.87 million. During the same quarter in the previous year, the company earned $1.41 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Zacks Research lowered Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. Finally, Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Innospec currently has an average rating of “Reduce”.

Innospec Profile

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.