State Street Corp Buys 20,744 Shares of Innospec Inc. (NASDAQ:IOSP)

State Street Corp raised its position in shares of Innospec Inc. (NASDAQ:IOSP) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 996,281 shares of the specialty chemicals company’s stock after purchasing an additional 20,744 shares during the period. State Street Corp’s holdings in Innospec were worth $112,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. 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. raised its stake in Innospec by 503.9% in the 3rd quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock valued at $96,000 after acquiring an additional 650 shares during the period. nVerses Capital LLC lifted its holdings in Innospec by 200.0% during the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 600 shares during the last quarter. Point72 DIFC Ltd bought a new position in Innospec during the second quarter worth about $184,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Innospec in the third quarter worth about $215,000. 96.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Innospec Price Performance

NASDAQ:IOSP opened at $115.86 on Monday. Innospec Inc. has a 1 year low of $103.97 and a 1 year high of $133.71. The stock’s fifty day moving average price is $115.52 and its two-hundred day moving average price is $117.39. The company has a market cap of $2.89 billion, a P/E ratio of 20.22 and a beta of 1.09.

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, hitting analysts’ consensus estimates of $1.35. The business had revenue of $443.40 million for the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.59 EPS. On average, analysts expect that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders 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. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 18th. Innospec’s dividend payout ratio (DPR) is 27.57%.

Insider Activity at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of the stock in a transaction 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 in the company, valued at approximately $1,109,721.76. This trade represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.52% of the stock is owned by corporate insiders.

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.