US Bancorp DE Purchases 4,194 Shares of Innospec Inc. (NASDAQ:IOSP)

US Bancorp DE lifted its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 323.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,490 shares of the specialty chemicals company's stock after buying an additional 4,194 shares during the quarter. US Bancorp DE's holdings in Innospec were worth $621,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IOSP. Vanguard Group Inc. lifted its stake in Innospec by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company's stock worth $401,670,000 after purchasing an additional 161,249 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Innospec by 4.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company's stock worth $272,069,000 after purchasing an additional 105,311 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Innospec by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 258,294 shares of the specialty chemicals company's stock worth $31,923,000 after purchasing an additional 6,148 shares in the last quarter. Sei Investments Co. raised its position in shares of Innospec by 4.9% during the 1st quarter. Sei Investments Co. now owns 138,788 shares of the specialty chemicals company's stock valued at $17,895,000 after buying an additional 6,532 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Innospec by 12.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 135,369 shares of the specialty chemicals company's stock valued at $15,309,000 after buying an additional 15,287 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Innospec

In related news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the transaction, the chief financial officer now owns 12,996 shares of the company's stock, valued at approximately $1,491,161.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is owned by insiders.

Innospec Trading Up 2.2 %

Shares of Innospec stock traded up $2.73 on Monday, hitting $124.38. 241,409 shares of the company traded hands, compared to its average volume of 108,726. The firm's 50-day simple moving average is $111.61 and its 200 day simple moving average is $118.78. The company has a market cap of $3.10 billion, a P/E ratio of 21.23 and a beta of 1.08. Innospec Inc. has a 12-month low of $100.77 and a 12-month high of $133.71.

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

Innospec Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, November 18th. This represents a dividend yield of 1.3%. This is a positive change from Innospec's previous Semi-Annual dividend of $0.72. Innospec's dividend payout ratio (DPR) is currently 26.53%.

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.