Eagle Asset Management Inc. Sells 58,380 Shares of Innospec Inc. (NASDAQ:IOSP)

Eagle Asset Management Inc. cut its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 34.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,939 shares of the specialty chemicals company's stock after selling 58,380 shares during the quarter. Eagle Asset Management Inc. owned 0.44% of Innospec worth $13,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of IOSP. DekaBank Deutsche Girozentrale purchased a new position in Innospec during the 1st quarter valued at about $66,000. CWM LLC boosted its holdings 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 acquiring an additional 448 shares in the last quarter. Blue Trust Inc. increased its position in Innospec by 503.9% during the 3rd 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 during the period. nVerses Capital LLC raised its holdings in Innospec by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company's stock worth $102,000 after purchasing an additional 600 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Innospec in the 2nd quarter worth about $184,000. 96.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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 Stock Performance

Shares of IOSP traded up $1.41 on Friday, reaching $119.75. The stock had a trading volume of 110,761 shares, compared to its average volume of 121,748. 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 $2.99 billion, a price-to-earnings ratio of 20.90 and a beta of 1.08. The company has a 50-day simple moving average of $113.87 and a 200-day simple moving average of $118.72.

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. On average, analysts expect 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 will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be given a $0.79 dividend. This is a boost from Innospec's previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. The ex-dividend date is Monday, November 18th. Innospec's payout ratio is currently 27.57%.

Insider Buying and Selling

In other news, CFO Ian Cleminson sold 3,398 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the sale, the chief financial officer now owns 12,996 shares of the company's stock, valued at $1,491,161.04. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Milton C. Blackmore sold 1,035 shares of the business's stock in a transaction that occurred 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. The trade was a 10.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

About Innospec

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.