Wolverine Trading LLC Takes Position in Innospec Inc. (NASDAQ:IOSP)

Wolverine Trading LLC bought a new stake in Innospec Inc. (NASDAQ:IOSP) during the third quarter, Holdings Channel reports. The institutional investor bought 2,497 shares of the specialty chemicals company’s stock, valued at approximately $285,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in Innospec by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock worth $272,069,000 after purchasing an additional 105,311 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Innospec by 9.3% during the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after buying an additional 70,902 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Innospec during the third quarter worth about $5,486,000. Cubist Systematic Strategies LLC increased its position in Innospec by 117.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 81,311 shares of the specialty chemicals company’s stock valued at $10,049,000 after acquiring an additional 43,898 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Innospec by 4.8% during the 3rd quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock valued at $102,689,000 after acquiring an additional 41,449 shares during the last quarter. 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 firm’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 in the company, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.52% of the company’s stock.

Innospec Price Performance

NASDAQ:IOSP opened at $115.86 on Friday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 20.22 and a beta of 1.09. Innospec Inc. has a 1-year low of $103.97 and a 1-year high of $133.71. The firm’s fifty day moving average price is $115.52 and its 200 day moving average price is $117.45.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results 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 analyst estimates of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The business’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 earnings per share. As a group, analysts expect that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were issued a $0.79 dividend. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. The ex-dividend date was Monday, November 18th. Innospec’s dividend payout ratio (DPR) is currently 27.57%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th.

Innospec 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.