Geode Capital Management LLC Buys 24,843 Shares of Innospec Inc. (NASDAQ:IOSP)

Geode Capital Management LLC lifted its stake in Innospec Inc. (NASDAQ:IOSP) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 677,283 shares of the specialty chemicals company’s stock after buying an additional 24,843 shares during the period. Geode Capital Management LLC’s holdings in Innospec were worth $76,606,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Innospec by 357.1% during the third quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company’s stock valued at $5,039,000 after purchasing an additional 34,811 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Innospec by 17.2% in the third quarter. Public Employees Retirement System of Ohio now owns 15,474 shares of the specialty chemicals company’s stock worth $1,750,000 after purchasing an additional 2,266 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Innospec in the 3rd quarter worth about $1,204,000. Wolverine Trading LLC purchased a new stake in Innospec during the 3rd quarter valued at $285,000. Finally, State Street Corp grew its holdings in shares of Innospec by 2.1% in the third quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock worth $112,669,000 after acquiring an additional 20,744 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Trading Up 0.5 %

Shares of NASDAQ IOSP opened at $109.71 on Friday. Innospec Inc. has a 12-month low of $103.97 and a 12-month high of $133.71. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 19.15 and a beta of 1.09. The firm has a 50 day moving average of $115.50 and a 200 day moving average of $116.96.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.35. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. During the same quarter in the previous year, the firm posted $1.59 EPS. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. Sell-side analysts predict that Innospec Inc. will post 5.88 EPS for the current 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 given a $0.79 dividend. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. The ex-dividend date of this dividend was Monday, November 18th. This represents a yield of 1.3%. Innospec’s dividend payout ratio is presently 27.57%.

Insider Transactions at Innospec

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the company’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 completion of the transaction, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.