Innospec Inc. (NASDAQ:IOSP) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. boosted its position in shares of Innospec Inc. (NASDAQ:IOSP) by 7.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,106 shares of the specialty chemicals company’s stock after acquiring an additional 155 shares during the period. Raymond James Trust N.A.’s holdings in Innospec were worth $238,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IOSP. Charles Schwab Investment Management Inc. grew its holdings in Innospec by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock valued at $38,057,000 after purchasing an additional 11,479 shares during the period. Intech Investment Management LLC lifted its holdings in Innospec by 98.1% during the third quarter. Intech Investment Management LLC now owns 6,500 shares of the specialty chemicals company’s stock valued at $735,000 after purchasing an additional 3,219 shares in the last quarter. Moran Wealth Management LLC grew its position in shares of Innospec by 1.2% in the third quarter. Moran Wealth Management LLC now owns 47,612 shares of the specialty chemicals company’s stock valued at $5,384,000 after purchasing an additional 545 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Innospec during the third quarter worth about $254,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Innospec during the 3rd quarter worth about $3,726,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Insider Activity at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of the company’s 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 sale, the director now owns 9,028 shares of the company’s stock, valued at approximately $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.35% of the company’s stock.

Innospec Stock Performance

NASDAQ IOSP opened at $117.66 on Friday. Innospec Inc. has a one year low of $103.97 and a one year high of $133.71. The business has a fifty day moving average price of $114.30 and a 200 day moving average price of $118.48. The company has a market cap of $2.93 billion, a P/E ratio of 20.53 and a beta of 1.08.

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

Innospec Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. Innospec’s dividend payout ratio is 27.57%.

Analyst Upgrades and Downgrades

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

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.