Innospec Inc. $IOSP Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 12.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,935 shares of the specialty chemicals company’s stock after selling 17,281 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Innospec worth $9,254,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IOSP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Innospec during the second quarter worth $28,000. Versant Capital Management Inc increased its holdings in Innospec by 378.1% during the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 431 shares during the period. EverSource Wealth Advisors LLC raised its position in Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 487 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Innospec by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock valued at $57,000 after buying an additional 186 shares during the period. Finally, State of Wyoming grew its position in shares of Innospec by 27.5% during the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock worth $67,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Innospec in a research report on Monday, December 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Innospec Stock Down 1.7%

Shares of Innospec stock opened at $86.88 on Friday. Innospec Inc. has a 52 week low of $70.10 and a 52 week high of $112.74. The firm’s 50 day moving average is $80.19 and its two-hundred day moving average is $79.13. The firm has a market capitalization of $2.15 billion, a P/E ratio of -2,896.00 and a beta of 0.91.

Innospec Company Profile

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.