Martingale Asset Management L P Sells 10,107 Shares of Innospec Inc. (NASDAQ:IOSP)

Martingale Asset Management L P trimmed its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 76.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,100 shares of the specialty chemicals company's stock after selling 10,107 shares during the quarter. Martingale Asset Management L P's holdings in Innospec were worth $351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new stake in Innospec in the first quarter valued at approximately $66,000. CWM LLC raised its stake in Innospec by 239.6% in the second quarter. CWM LLC now owns 635 shares of the specialty chemicals company's stock valued at $78,000 after purchasing an additional 448 shares in the last quarter. Blue Trust Inc. raised its stake in Innospec by 503.9% in the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company's stock valued at $96,000 after purchasing an additional 650 shares in the last quarter. nVerses Capital LLC raised its stake in Innospec by 200.0% in the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company's stock valued at $102,000 after purchasing an additional 600 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Innospec during the second quarter worth approximately $184,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of Innospec 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 completion of the transaction, the director now owns 9,028 shares of the company's stock, valued at $1,109,721.76. The trade was a 10.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.35% of the stock is owned by insiders.

Innospec Price Performance

NASDAQ:IOSP traded down $0.48 during trading hours on Wednesday, hitting $118.97. The company had a trading volume of 66,720 shares, compared to its average volume of 108,943. The company has a market capitalization of $2.97 billion, a PE ratio of 20.85 and a beta of 1.09. The stock has a 50-day moving average price of $114.81 and a 200 day moving average price of $118.08. 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 announced its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS 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 firm had revenue of $443.40 million for the quarter, compared to analysts' expectations of $442.13 million. During the same quarter in the previous year, the business posted $1.59 EPS. The company's quarterly revenue was down 4.5% on a year-over-year basis. Analysts anticipate that Innospec Inc. will post 5.88 EPS for the current fiscal year.

Innospec Increases Dividend

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

Analyst Ratings Changes

Separately, StockNews.com downgraded 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.