State of Tennessee Treasury Department reduced its position in Innospec Inc. (NASDAQ:IOSP) by 9.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,234 shares of the specialty chemicals company’s stock after selling 2,094 shares during the period. State of Tennessee Treasury Department’s holdings in Innospec were worth $1,358,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of Innospec by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 18,457 shares of the specialty chemicals company’s stock worth $1,210,000 after purchasing an additional 182 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Innospec by 35.6% during the third quarter. First Trust Advisors LP now owns 32,447 shares of the specialty chemicals company’s stock worth $2,000,000 after purchasing an additional 8,520 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Innospec during the third quarter worth about $302,000. Victory Capital Management Inc. lifted its position in shares of Innospec by 33.4% during the third quarter. Victory Capital Management Inc. now owns 3,629 shares of the specialty chemicals company’s stock worth $224,000 after purchasing an additional 909 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Innospec by 24.4% during the third quarter. American Century Companies Inc. now owns 449,089 shares of the specialty chemicals company’s stock worth $27,686,000 after purchasing an additional 88,053 shares during the last quarter. 91.18% of the stock is owned by institutional investors.
Innospec Inc. (IOSP) opened at $69.55 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.34 and a current ratio of 2.15. Innospec Inc. has a 12-month low of $54.10 and a 12-month high of $74.30. The company has a market cap of $1,693.54, a PE ratio of 15.02 and a beta of 1.13.
In other Innospec news, insider Philip Curran sold 1,268 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $68.24, for a total value of $86,528.32. Following the transaction, the insider now owns 2,998 shares of the company’s stock, valued at $204,583.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Philip John Boon sold 501 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.04, for a total transaction of $33,587.04. Following the completion of the transaction, the vice president now directly owns 35,439 shares in the company, valued at approximately $2,375,830.56. The disclosure for this sale can be found here. Insiders sold 8,554 shares of company stock worth $584,767 in the last three months. 2.02% of the stock is currently owned by corporate insiders.
IOSP has been the topic of several research analyst reports. Zacks Investment Research cut shares of Innospec from a “hold” rating to a “strong sell” rating in a research report on Friday, February 23rd. BidaskClub raised shares of Innospec from a “sell” rating to a “hold” rating in a research report on Thursday. Johnson Rice raised shares of Innospec from a “hold” rating to an “accumulate” rating in a research report on Tuesday, November 14th. Finally, ValuEngine raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Innospec has a consensus rating of “Hold” and an average price target of $70.50.
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Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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