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

Geode Capital Management LLC increased its stake in Innospec Inc. (NASDAQ:IOSP) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 677,283 shares of the specialty chemicals company’s stock after purchasing an additional 24,843 shares during the period. Geode Capital Management LLC owned 2.72% of Innospec worth $76,606,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted 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 valued at $272,069,000 after purchasing an additional 105,311 shares during the period. Wasatch Advisors LP raised its position in shares of Innospec by 0.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock valued at $204,189,000 after acquiring an additional 11,231 shares during the last quarter. State Street Corp lifted its stake in shares of Innospec by 2.1% in the 3rd quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock valued at $112,669,000 after purchasing an additional 20,744 shares during the period. Victory Capital Management Inc. boosted its position in shares of Innospec by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock worth $102,689,000 after purchasing an additional 41,449 shares during the last quarter. Finally, Royce & Associates LP grew 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 purchasing an additional 70,902 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the stock in a transaction dated Wednesday, November 13th. The stock was 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 approximately $1,109,721.76. This trade represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is currently owned by company insiders.

Innospec Trading Up 0.5 %

IOSP stock opened at $109.71 on Friday. Innospec Inc. has a 1-year low of $103.97 and a 1-year high of $133.71. The firm has a market cap of $2.74 billion, a PE ratio of 19.15 and a beta of 1.09. The business’s 50-day moving average price is $115.50 and its two-hundred day moving average price is $116.96.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.35. The firm had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The business’s 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 forecast that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

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

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.