Innospec Inc. (NASDAQ:IOSP) Shares Sold by Round Hill Asset Management

Round Hill Asset Management lowered its position in shares of Innospec Inc. (NASDAQ:IOSP) by 17.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,974 shares of the specialty chemicals company’s stock after selling 2,540 shares during the period. Round Hill Asset Management’s holdings in Innospec were worth $1,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IOSP. Algert Global LLC raised its stake in shares of Innospec by 15.3% in the 3rd quarter. Algert Global LLC now owns 51,512 shares of the specialty chemicals company’s stock valued at $5,825,000 after acquiring an additional 6,840 shares during the period. Cerity Partners LLC increased its holdings in Innospec by 324.5% in the 3rd quarter. Cerity Partners LLC now owns 13,664 shares of the specialty chemicals company’s stock valued at $1,545,000 after purchasing an additional 10,445 shares during the last quarter. Citigroup Inc. raised its position in Innospec by 46.1% in the third quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock valued at $3,641,000 after purchasing an additional 10,162 shares during the period. Raymond James Trust N.A. raised its position in Innospec by 7.9% in the third quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock valued at $238,000 after purchasing an additional 155 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Innospec by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock worth $38,057,000 after purchasing an additional 11,479 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Price Performance

NASDAQ IOSP opened at $119.75 on Friday. The company has a market cap of $2.99 billion, a P/E ratio of 20.90 and a beta of 1.08. Innospec Inc. has a 1-year low of $103.97 and a 1-year high of $133.71. The stock has a 50-day moving average of $113.87 and a two-hundred day moving average of $118.72.

Innospec (NASDAQ:IOSP) 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 firm had revenue of $443.40 million during 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%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 earnings per share. On average, analysts anticipate that Innospec Inc. will post 5.88 EPS for the current fiscal year.

Innospec Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend 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 is currently 27.57%.

Analyst Ratings Changes

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

Insider Activity

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ian Cleminson sold 3,398 shares of Innospec stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $114.74, for a total value of $389,886.52. Following the completion of the transaction, the chief financial officer now owns 12,996 shares of the company’s stock, valued at $1,491,161.04. The trade was a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

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.