PDT Partners LLC Decreases Position in Innospec Inc. (NASDAQ:IOSP)

PDT Partners LLC lessened its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 55.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,854 shares of the specialty chemicals company's stock after selling 8,645 shares during the quarter. PDT Partners LLC's holdings in Innospec were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the business. Inspire Advisors LLC increased its position in shares of Innospec by 1.6% during the 2nd quarter. Inspire Advisors LLC now owns 6,819 shares of the specialty chemicals company's stock worth $843,000 after purchasing an additional 110 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Innospec by 1.9% during the second 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 last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Innospec by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 21,891 shares of the specialty chemicals company's stock valued at $2,706,000 after purchasing an additional 129 shares in the last quarter. Raymond James Trust N.A. raised its position in Innospec by 7.9% in the 3rd quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company's stock worth $238,000 after purchasing an additional 155 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its position in Innospec by 8.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,421 shares of the specialty chemicals company's stock valued at $299,000 after buying an additional 192 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Stock Down 0.8 %

Shares of NASDAQ IOSP traded down $0.95 during midday trading on Tuesday, hitting $119.45. 88,818 shares of the company's stock were exchanged, compared to its average volume of 109,292. Innospec Inc. has a 12 month low of $103.97 and a 12 month high of $133.71. The firm has a market capitalization of $2.98 billion, a PE ratio of 20.85 and a beta of 1.09. The company's 50 day moving average price is $114.68 and its 200 day moving average price is $118.15.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, meeting the consensus estimate of $1.35. The business had revenue of $443.40 million for the quarter, compared to analyst estimates of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. Innospec's revenue was down 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. On average, equities research analysts anticipate that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were paid a $0.79 dividend. This is a positive change from Innospec's previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. The ex-dividend date was Monday, November 18th. Innospec's payout ratio is currently 27.57%.

Insider Transactions at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.