State of New Jersey Common Pension Fund D Has $1.97 Million Stock Position in Innospec Inc. (NASDAQ:IOSP)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 17.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,409 shares of the specialty chemicals company’s stock after purchasing an additional 2,625 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Innospec were worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IOSP. ProShare Advisors LLC raised its holdings in shares of Innospec by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 5,030 shares of the specialty chemicals company’s stock worth $649,000 after buying an additional 347 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Innospec during the 1st quarter valued at about $480,000. Vanguard Group Inc. boosted its position in shares of Innospec by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock valued at $401,670,000 after purchasing an additional 161,249 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in shares of Innospec by 0.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 36,161 shares of the specialty chemicals company’s stock valued at $4,663,000 after purchasing an additional 160 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Innospec by 13.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,294 shares of the specialty chemicals company’s stock worth $554,000 after acquiring an additional 501 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Innospec Trading Down 2.3 %

Shares of IOSP opened at $119.03 on Monday. The stock has a 50 day moving average of $112.76 and a 200 day moving average of $118.82. Innospec Inc. has a 12 month low of $103.97 and a 12 month high of $133.71. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 20.77 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 EPS for the quarter, hitting analysts’ consensus estimates of $1.35. The firm had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. As a group, equities research analysts predict that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

The company also recently declared 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. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. The ex-dividend date of this dividend is Monday, November 18th. This represents a yield of 1.3%. Innospec’s dividend payout ratio (DPR) is presently 26.53%.

Insider Transactions at Innospec

In other news, CFO Ian Cleminson sold 6,602 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $113.60, for a total value of $749,987.20. Following the sale, the chief financial officer now directly owns 16,394 shares of the company’s stock, valued at $1,862,358.40. The trade was a 28.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 trade represents a 10.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,035 shares of company stock worth $1,267,096. Company insiders own 1.52% 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.