Innospec Inc. (NASDAQ:IOSP) Position Increased by Citigroup Inc.

Citigroup Inc. raised its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 46.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,193 shares of the specialty chemicals company's stock after purchasing an additional 10,162 shares during the period. Citigroup Inc. owned about 0.13% of Innospec worth $3,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in shares of Innospec by 98.4% during the second quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company's stock worth $14,841,000 after purchasing an additional 59,554 shares during the last quarter. US Bancorp DE boosted its holdings in Innospec by 323.6% in the 3rd quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company's stock valued at $621,000 after purchasing an additional 4,194 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Innospec by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company's stock worth $38,057,000 after acquiring an additional 11,479 shares during the period. SG Americas Securities LLC increased its holdings in shares of Innospec by 660.1% in the 2nd quarter. SG Americas Securities LLC now owns 9,767 shares of the specialty chemicals company's stock valued at $1,207,000 after purchasing an additional 8,482 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Innospec by 2,699.6% during the 2nd quarter. Quest Partners LLC now owns 13,802 shares of the specialty chemicals company's stock valued at $1,706,000 after acquiring an additional 13,309 shares during the period. Institutional investors and hedge funds own 96.64% of the company's stock.

Insider Activity

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.52% of the company's stock.

Innospec Stock Down 1.5 %

Shares of IOSP stock traded down $1.83 during trading hours on Thursday, hitting $117.14. 76,121 shares of the company were exchanged, compared to its average volume of 109,097. The firm has a fifty day moving average of $114.97 and a 200 day moving average of $118.08. Innospec Inc. has a 1 year low of $103.97 and a 1 year high of $133.71. The firm has a market cap of $2.92 billion, a PE ratio of 20.76 and a beta of 1.09.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $442.13 million. During the same quarter last year, the business earned $1.59 EPS. Innospec's revenue for the quarter was down 4.5% on a year-over-year basis. Analysts expect that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were given a $0.79 dividend. This is an increase from Innospec's previous Semi-Annual dividend of $0.72. The ex-dividend date of this dividend was Monday, November 18th. This represents a yield of 1.3%. Innospec's dividend payout ratio (DPR) is 27.57%.

Analyst Upgrades and Downgrades

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

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.