Charles Schwab Investment Management Inc. increased its holdings in Innospec Inc. (NASDAQ:IOSP - Free Report) by 3.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 336,522 shares of the specialty chemicals company's stock after purchasing an additional 11,479 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.35% of Innospec worth $38,057,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Innospec by 4.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company's stock valued at $272,069,000 after purchasing an additional 105,311 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company's stock worth $94,468,000 after purchasing an additional 70,902 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Innospec by 98.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company's stock worth $14,841,000 after acquiring an additional 59,554 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Innospec by 117.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 81,311 shares of the specialty chemicals company's stock valued at $10,049,000 after buying an additional 43,898 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Innospec by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company's stock valued at $102,689,000 after purchasing an additional 41,449 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of Innospec from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 8th.
Check Out Our Latest Report on IOSP
Innospec Price Performance
Shares of Innospec stock traded down $0.95 on Tuesday, reaching $119.45. 88,818 shares of the company were exchanged, compared to its average volume of 109,292. The stock's 50 day moving average price is $114.68 and its 200-day moving average price is $118.15. The company has a market cap of $2.98 billion, a P/E ratio of 20.85 and a beta of 1.09. Innospec Inc. has a 1-year low of $103.97 and a 1-year high of $133.71.
Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, hitting the consensus estimate of $1.35. The business had revenue of $443.40 million during the quarter, compared to analysts' expectations of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The company's quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 earnings per share. On average, research analysts predict that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.
Innospec Increases Dividend
The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were paid a $0.79 dividend. This represents a yield of 1.3%. This is a positive change from Innospec's previous Semi-Annual dividend of $0.72. The ex-dividend date of this dividend was Monday, November 18th. Innospec's dividend payout ratio (DPR) is presently 27.57%.
Insiders Place Their Bets
In related news, Director Milton C. Blackmore sold 1,035 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now directly owns 9,028 shares in the company, valued at approximately $1,109,721.76. This trade represents a 10.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.35% of the stock is owned by corporate insiders.
Innospec Company Profile
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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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