First Hawaiian Bank Decreases Holdings in Innospec Inc. (IOSP)

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First Hawaiian Bank reduced its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 58.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 748 shares of the specialty chemicals company’s stock after selling 1,066 shares during the quarter. First Hawaiian Bank’s holdings in Innospec were worth $62,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Thrivent Financial for Lutherans lifted its position in shares of Innospec by 2.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 175,571 shares of the specialty chemicals company’s stock worth $10,843,000 after purchasing an additional 4,091 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Innospec by 53.0% during the third quarter. MetLife Investment Advisors LLC now owns 17,299 shares of the specialty chemicals company’s stock worth $1,328,000 after purchasing an additional 5,996 shares in the last quarter. Alpha Windward LLC acquired a new position in shares of Innospec during the fourth quarter worth $385,000. BlackRock Inc. lifted its position in shares of Innospec by 1.8% during the fourth quarter. BlackRock Inc. now owns 3,993,716 shares of the specialty chemicals company’s stock worth $246,650,000 after purchasing an additional 72,441 shares in the last quarter. Finally, BlueMountain Capital Management LLC lifted its position in shares of Innospec by 281.7% during the third quarter. BlueMountain Capital Management LLC now owns 17,535 shares of the specialty chemicals company’s stock worth $1,346,000 after purchasing an additional 12,941 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Innospec from a “hold” rating to a “strong-buy” rating and set a $94.00 target price on the stock in a research report on Friday, March 1st. BidaskClub raised shares of Innospec from a “hold” rating to a “buy” rating in a report on Tuesday, February 5th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $88.50.

In other Innospec news, VP Philip John Boon sold 1,528 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $83.39, for a total transaction of $127,419.92. Following the sale, the vice president now directly owns 38,383 shares of the company’s stock, valued at $3,200,758.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Williams sold 3,362 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $80.51, for a total transaction of $270,674.62. Following the sale, the chief executive officer now directly owns 204,834 shares in the company, valued at $16,491,185.34. The disclosure for this sale can be found here. Insiders sold 28,984 shares of company stock worth $2,382,501 over the last ninety days. 1.62% of the stock is currently owned by corporate insiders.

IOSP opened at $84.90 on Monday. The firm has a market capitalization of $2.10 billion, a P/E ratio of 17.58 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.40 and a current ratio of 2.24. Innospec Inc. has a 12-month low of $53.07 and a 12-month high of $86.53.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, February 19th. The specialty chemicals company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.27. The firm had revenue of $395.00 million for the quarter. Innospec had a net margin of 5.76% and a return on equity of 14.34%. As a group, equities research analysts anticipate that Innospec Inc. will post 5 EPS for the current fiscal year.

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Innospec Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.

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Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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