Thrivent Financial for Lutherans Grows Stock Holdings in Innospec Inc. (NASDAQ:IOSP)

Thrivent Financial for Lutherans increased its position in Innospec Inc. (NASDAQ:IOSP) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 59,602 shares of the specialty chemicals company’s stock after buying an additional 195 shares during the period. Thrivent Financial for Lutherans owned about 0.24% of Innospec worth $6,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Assenagon Asset Management S.A. grew its position in shares of 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 purchasing an additional 59,554 shares in the last quarter. Vanguard Group Inc. boosted 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 during the period. US Bancorp DE grew its holdings 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 in the last quarter. SG Americas Securities LLC raised its position in shares of Innospec by 660.1% during the second 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 last quarter. Finally, Quest Partners LLC lifted its holdings in shares of Innospec by 2,699.6% in the second quarter. Quest Partners LLC now owns 13,802 shares of the specialty chemicals company’s stock worth $1,706,000 after buying an additional 13,309 shares in the last quarter. 96.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Ian Cleminson sold 3,398 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $114.74, for a total value of $389,886.52. Following the completion of the sale, the chief financial officer now directly owns 12,996 shares of the company’s stock, valued at $1,491,161.04. This trade represents a 20.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Milton C. Blackmore sold 1,035 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 approximately $1,109,721.76. This represents a 10.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

Innospec Trading Up 1.2 %

Shares of IOSP stock opened at $119.75 on Friday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 20.91 and a beta of 1.08. Innospec Inc. has a 12-month low of $103.97 and a 12-month high of $133.71. The stock’s 50-day moving average price is $113.65 and its 200-day moving average price is $118.75.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.35. The business had revenue of $443.40 million for the quarter, compared to the consensus estimate of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.59 EPS. As a group, research analysts predict that Innospec Inc. will post 5.88 EPS for the current fiscal year.

Innospec Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Shareholders 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 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 27.57%.

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.