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Quantbot Technologies LP Acquires New Holdings in Innospec Inc. (NASDAQ:IOSP)

Innospec logo with Basic Materials background

Quantbot Technologies LP acquired a new position in Innospec Inc. (NASDAQ:IOSP - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,443 shares of the specialty chemicals company's stock, valued at approximately $1,294,000.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in Innospec by 98.4% in the 2nd 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 period. US Bancorp DE boosted its position in Innospec by 323.6% during the 3rd quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company's stock valued at $621,000 after buying an additional 4,194 shares during the period. SG Americas Securities LLC boosted its position in Innospec by 660.1% during 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 buying an additional 8,482 shares during the period. Quest Partners LLC grew its holdings in Innospec by 2,699.6% in the 2nd quarter. Quest Partners LLC now owns 13,802 shares of the specialty chemicals company's stock worth $1,706,000 after acquiring an additional 13,309 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Innospec by 58.9% during the second quarter. TD Asset Management Inc now owns 17,000 shares of the specialty chemicals company's stock valued at $2,101,000 after acquiring an additional 6,300 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Get Our Latest Stock Analysis on Innospec

Insider Buying and Selling

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction dated Wednesday, November 13th. The shares were 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 directly owns 9,028 shares of the company's stock, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is currently owned by insiders.

Innospec Price Performance

Innospec stock traded up $0.95 during mid-day trading on Friday, reaching $118.61. 58,286 shares of the company traded hands, compared to its average volume of 136,959. The firm's 50 day moving average price is $114.50 and its 200 day moving average price is $118.22. Innospec Inc. has a 52-week low of $103.97 and a 52-week high of $133.71. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 20.70 and a beta of 1.08.

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 (EPS) for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $443.40 million for the quarter, compared to analysts' expectations of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. Innospec's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.59 earnings per share. On average, sell-side analysts anticipate that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were issued a dividend of $0.79 per share. This represents a dividend 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 payout ratio is 27.57%.

Innospec Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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