Algert Global LLC increased its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 15.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,512 shares of the specialty chemicals company's stock after acquiring an additional 6,840 shares during the period. Algert Global LLC owned approximately 0.21% of Innospec worth $5,825,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Inspire Advisors LLC boosted its position in shares of Innospec by 1.6% during the second quarter. Inspire Advisors LLC now owns 6,819 shares of the specialty chemicals company's stock worth $843,000 after buying an additional 110 shares during the period. Arizona State Retirement System increased its position in shares of Innospec by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 6,962 shares of the specialty chemicals company's stock valued at $860,000 after purchasing an additional 128 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Innospec by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 21,891 shares of the specialty chemicals company's stock worth $2,706,000 after buying an additional 129 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Innospec by 7.9% in the third quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company's stock valued at $238,000 after buying an additional 155 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in shares of Innospec by 8.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,421 shares of the specialty chemicals company's stock valued at $299,000 after purchasing an additional 192 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CFO Ian Cleminson sold 3,398 shares of Innospec stock in a transaction on Monday, August 26th. The shares were sold at an average price of $114.74, for a total value of $389,886.52. Following the transaction, the chief financial officer now owns 12,996 shares in the company, valued at $1,491,161.04. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Milton C. Blackmore sold 1,035 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the transaction, the director now directly owns 9,028 shares of the company's stock, valued at $1,109,721.76. This represents a 10.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.52% of the company's stock.
Innospec Price Performance
NASDAQ IOSP traded up $1.41 on Friday, hitting $119.75. 110,761 shares of the stock were exchanged, compared to its average volume of 121,748. The company's 50-day moving average price is $113.87 and its two-hundred day moving average price is $118.63. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 20.90 and a beta of 1.08. Innospec Inc. has a 52-week low of $103.97 and a 52-week high of $133.71.
Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.35. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The company had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. During the same quarter in the prior year, the firm earned $1.59 EPS. The company's revenue was down 4.5% compared to the same quarter last year. Equities analysts predict that Innospec Inc. will post 5.88 EPS for the current fiscal year.
Innospec Increases Dividend
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be paid a $0.79 dividend. This represents a dividend yield of 1.3%. The ex-dividend date is Monday, November 18th. This is a positive change from Innospec's previous Semi-Annual dividend of $0.72. Innospec's payout ratio is presently 27.57%.
Analyst Ratings Changes
Separately, StockNews.com lowered Innospec from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th.
Check Out Our Latest Report on Innospec
About Innospec
(
Free Report)
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.
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