SVB Wealth LLC Takes Position in Innospec Inc. (NASDAQ:IOSP)

SVB Wealth LLC bought a new position in shares of Innospec Inc. (NASDAQ:IOSP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,162 shares of the specialty chemicals company’s stock, valued at approximately $238,000.

Several other large investors have also bought and sold shares of IOSP. Blue Trust Inc. raised its position in Innospec by 54.2% during the 4th quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company’s stock worth $136,000 after purchasing an additional 422 shares during the last quarter. KBC Group NV raised its position in Innospec by 82.3% during the 4th quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock worth $136,000 after purchasing an additional 558 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Innospec during the 3rd quarter worth $215,000. Claro Advisors LLC bought a new position in Innospec during the 4th quarter worth $220,000. Finally, Raymond James Trust N.A. raised its position in Innospec by 7.9% during the 3rd quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock worth $238,000 after purchasing an additional 155 shares during the last quarter. 96.64% of the stock is owned by institutional investors.

Innospec Trading Up 0.4 %

IOSP stock opened at $98.16 on Thursday. The stock has a 50-day moving average price of $109.59 and a 200-day moving average price of $112.17. Innospec Inc. has a 1-year low of $97.13 and a 1-year high of $133.71. The firm has a market cap of $2.45 billion, a PE ratio of 69.13 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.05. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The firm had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. On average, analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Innospec from a “hold” rating to a “buy” rating in a research report on Thursday.

Insider Transactions at Innospec

In other news, VP Philip John Boon sold 3,754 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $387,788.20. Following the completion of the sale, the vice president now directly owns 20,079 shares in the company, valued at $2,074,160.70. This trade represents a 15.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Corbin Barnes sold 598 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $103.06, for a total value of $61,629.88. Following the completion of the sale, the senior vice president now owns 8,051 shares of the company’s stock, valued at approximately $829,736.06. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,696 shares of company stock valued at $794,853. Corporate insiders own 1.52% of the company’s stock.

About Innospec

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.