Edgestream Partners L.P. Acquires Shares of 48,512 Innospec Inc. (NASDAQ:IOSP)

Edgestream Partners L.P. acquired a new position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 48,512 shares of the specialty chemicals company's stock, valued at approximately $5,486,000. Edgestream Partners L.P. owned about 0.19% of Innospec as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Innospec by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company's stock worth $272,069,000 after purchasing an additional 105,311 shares during the last quarter. Royce & Associates LP boosted its position in Innospec by 9.3% during the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company's stock worth $94,468,000 after acquiring an additional 70,902 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Innospec by 98.4% in 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 during the period. Cubist Systematic Strategies LLC raised its holdings in 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 acquiring an additional 43,898 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in 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 acquiring an additional 41,449 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Innospec from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th.

Innospec Trading Up 0.8 %

IOSP traded up $0.95 during midday trading on Friday, hitting $118.61. The company's stock had a trading volume of 58,286 shares, compared to its average volume of 136,959. The firm has a market cap of $2.96 billion, a P/E ratio of 20.70 and a beta of 1.08. The firm has a 50-day moving average price of $114.50 and a two-hundred day moving average price of $118.31. 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 issued its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, hitting the consensus estimate of $1.35. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The business had revenue of $443.40 million for the quarter, compared to analyst estimates of $442.13 million. During the same period last year, the company posted $1.59 EPS. The business's quarterly revenue was down 4.5% on a year-over-year basis. On average, equities analysts expect that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were issued a dividend of $0.79 per share. The ex-dividend date was Monday, November 18th. This represents a dividend yield of 1.3%. This is a boost from Innospec's previous Semi-Annual dividend of $0.72. Innospec's payout ratio is presently 27.57%.

Insider Buying and Selling

In other Innospec news, 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 transaction of $127,222.20. Following the transaction, the director now owns 9,028 shares in the company, valued at $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.52% of the company's stock.

Innospec Company 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.