Ingalls & Snyder LLC Increases Stock Position in Innospec Inc. (NASDAQ:IOSP)

Ingalls & Snyder LLC lifted its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,868 shares of the specialty chemicals company’s stock after purchasing an additional 272 shares during the period. Ingalls & Snyder LLC owned about 0.12% of Innospec worth $3,265,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Innospec by 98.4% during the second quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after buying an additional 59,554 shares in the last quarter. US Bancorp DE raised its stake in Innospec by 323.6% in the 3rd quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock valued at $621,000 after purchasing an additional 4,194 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Innospec by 660.1% in 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 purchasing an additional 8,482 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Innospec by 2,699.6% during the 2nd quarter. Quest Partners LLC now owns 13,802 shares of the specialty chemicals company’s stock worth $1,706,000 after purchasing an additional 13,309 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of Innospec by 58.9% in 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 buying an additional 6,300 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the firm’s 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 transaction, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.35% of the stock is owned by company insiders.

Innospec Stock Down 0.4 %

Shares of NASDAQ:IOSP traded down $0.52 during midday trading on Tuesday, reaching $119.88. The company’s stock had a trading volume of 3,954 shares, compared to its average volume of 108,915. The business has a 50 day moving average price of $114.68 and a 200 day moving average price of $118.15. Innospec Inc. has a 1 year low of $103.97 and a 1 year high of $133.71. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 21.01 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $443.40 million during the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.59 EPS. Sell-side analysts anticipate that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were paid a dividend of $0.79 per share. The ex-dividend date was Monday, November 18th. This represents a yield of 1.3%. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s dividend payout ratio (DPR) is currently 27.57%.

Wall Street Analyst Weigh In

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

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.