Illinois Municipal Retirement Fund Sells 555 Shares of Innospec Inc. (NASDAQ:IOSP)

Illinois Municipal Retirement Fund reduced its holdings in Innospec Inc. (NASDAQ:IOSP) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,429 shares of the specialty chemicals company’s stock after selling 555 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of Innospec worth $1,478,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Innospec by 1.1% in the fourth quarter. Bank of New York Mellon Corp now owns 237,616 shares of the specialty chemicals company’s stock worth $26,152,000 after acquiring an additional 2,633 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its holdings in shares of Innospec by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 4,923 shares of the specialty chemicals company’s stock worth $542,000 after acquiring an additional 230 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Innospec by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 129,448 shares of the specialty chemicals company’s stock worth $14,247,000 after acquiring an additional 4,376 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Innospec by 3.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 17,989 shares of the specialty chemicals company’s stock worth $1,980,000 after acquiring an additional 580 shares in the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of Innospec by 1.4% in the fourth quarter. New York State Teachers Retirement System now owns 14,981 shares of the specialty chemicals company’s stock worth $1,649,000 after acquiring an additional 200 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Milton C. Blackmore sold 652 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $67,351.60. Following the completion of the transaction, the director now directly owns 8,376 shares of the company’s stock, valued at approximately $865,240.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Philip John Boon sold 3,754 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $387,788.20. Following the transaction, the vice president now directly owns 20,079 shares of the company’s stock, valued at $2,074,160.70. This trade represents a 15.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,696 shares of company stock worth $794,853. 1.52% of the stock is owned by corporate insiders.

Innospec Stock Performance

NASDAQ:IOSP opened at $103.41 on Friday. The company has a market cap of $2.58 billion, a PE ratio of 72.82 and a beta of 1.09. Innospec Inc. has a 52-week low of $99.49 and a 52-week high of $133.71. The stock has a 50-day simple moving average of $110.06 and a 200 day simple moving average of $112.24.

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

Analyst Ratings Changes

Separately, StockNews.com downgraded Innospec from a “buy” rating to a “hold” rating in a report on Wednesday.

Innospec Profile

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.