JPMorgan Chase & Co. Grows Holdings in Innospec Inc. (NASDAQ:IOSP)

JPMorgan Chase & Co. boosted its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 24.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 266,688 shares of the specialty chemicals company's stock after purchasing an additional 52,640 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.07% of Innospec worth $30,160,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of 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 buying an additional 650 shares in the last quarter. nVerses Capital LLC lifted its holdings in Innospec by 200.0% during 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. Point72 DIFC Ltd purchased a new position in Innospec during the second quarter valued at $184,000. Point72 Asset Management L.P. acquired a new stake in shares of Innospec in the third quarter valued at about $215,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Innospec during the second quarter worth about $233,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Innospec Stock Performance

Shares of NASDAQ:IOSP traded up $0.07 during trading on Wednesday, reaching $106.62. The stock had a trading volume of 63,334 shares, compared to its average volume of 79,807. Innospec Inc. has a 1-year low of $103.97 and a 1-year high of $133.71. The stock has a market cap of $2.66 billion, a PE ratio of 18.61 and a beta of 1.09. The business has a fifty day moving average price of $114.98 and a 200-day moving average price of $115.50.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, meeting analysts' consensus estimates of $1.35. The company 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%. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 EPS. Sell-side analysts expect that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Innospec from a "buy" rating to a "strong-buy" rating in a research note on Friday, January 3rd.

Insiders Place Their Bets

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the company's stock in a transaction on 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 sale, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This represents a 10.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.35% of the company's stock.

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.