Maryland State Retirement & Pension System Lowers Stock Holdings in Innospec Inc. (NASDAQ:IOSP)

Maryland State Retirement & Pension System cut its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,037 shares of the specialty chemicals company’s stock after selling 122 shares during the period. Maryland State Retirement & Pension System’s holdings in Innospec were worth $1,114,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Innospec by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,941,356 shares of the specialty chemicals company’s stock worth $300,607,000 after buying an additional 11,502 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Innospec by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 298,635 shares of the specialty chemicals company’s stock worth $30,520,000 after acquiring an additional 12,135 shares during the period. Sei Investments Co. raised its stake in shares of Innospec by 8.7% in the third quarter. Sei Investments Co. now owns 128,506 shares of the specialty chemicals company’s stock valued at $13,133,000 after acquiring an additional 10,268 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Innospec by 19.7% in the third quarter. Acadian Asset Management LLC now owns 111,652 shares of the specialty chemicals company’s stock valued at $11,393,000 after purchasing an additional 18,371 shares during the period. Finally, Raymond James & Associates grew its stake in Innospec by 5.2% during the 3rd quarter. Raymond James & Associates now owns 90,149 shares of the specialty chemicals company’s stock worth $9,213,000 after purchasing an additional 4,460 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Price Performance

Shares of NASDAQ IOSP opened at $125.09 on Thursday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 22.46 and a beta of 1.11. The stock’s 50-day moving average is $124.02 and its two-hundred day moving average is $117.29. Innospec Inc. has a 1-year low of $91.74 and a 1-year high of $131.18.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, February 13th. The specialty chemicals company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.25. Innospec had a net margin of 7.14% and a return on equity of 13.69%. The firm had revenue of $494.70 million for the quarter, compared to analyst estimates of $479.47 million. During the same period in the prior year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities research analysts anticipate that Innospec Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Transactions at Innospec

In related news, CEO Patrick Williams sold 9,667 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $124.37, for a total value of $1,202,284.79. Following the transaction, the chief executive officer now owns 174,334 shares of the company’s stock, valued at $21,681,919.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Innospec news, CEO Patrick Williams sold 9,667 shares of Innospec stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $124.37, for a total transaction of $1,202,284.79. Following the completion of the sale, the chief executive officer now directly owns 174,334 shares of the company’s stock, valued at approximately $21,681,919.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David B. Jones sold 2,500 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $125.79, for a total value of $314,475.00. Following the completion of the transaction, the senior vice president now owns 9,664 shares in the company, valued at approximately $1,215,634.56. The disclosure for this sale can be found here. In the last three months, insiders sold 36,500 shares of company stock valued at $4,532,959. Insiders own 1.35% of the company’s stock.

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.