The Manufacturers Life Insurance Company Has $1.55 Million Holdings in Innospec Inc. (NASDAQ:IOSP)

The Manufacturers Life Insurance Company reduced its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 1.6% in the third quarter, HoldingsChannel.com reports. The firm owned 13,665 shares of the specialty chemicals company’s stock after selling 227 shares during the period. The Manufacturers Life Insurance Company’s holdings in Innospec were worth $1,545,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IOSP. CWM LLC lifted its position in shares of Innospec by 239.6% during the 2nd quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock valued at $78,000 after buying an additional 448 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Innospec by 503.9% during the 3rd quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock worth $96,000 after acquiring an additional 650 shares during the last quarter. nVerses Capital LLC raised its stake in shares of Innospec by 200.0% during the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 600 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Innospec in the second quarter worth $184,000. Finally, Sanctuary Advisors LLC bought a new position in Innospec during the 2nd quarter worth approximately $233,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Stock Down 0.2 %

Shares of IOSP stock opened at $116.31 on Wednesday. Innospec Inc. has a twelve month low of $103.97 and a twelve month high of $133.71. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 20.30 and a beta of 1.09. The business’s fifty day moving average is $115.23 and its 200 day moving average is $117.64.

Innospec (NASDAQ:IOSP) last posted 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. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The company had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. During the same quarter last year, the company earned $1.59 EPS. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts expect that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Innospec from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

Insider Transactions at Innospec

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the sale, the director now owns 9,028 shares of the company’s stock, valued at $1,109,721.76. The trade was a 10.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.35% of the company’s stock.

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.