Raymond James & Associates Lowers Position in Innospec Inc. (NASDAQ:IOSP)

Raymond James & Associates decreased its holdings in shares of Innospec Inc. (NASDAQ:IOSPGet Rating) by 11.6% in the 3rd quarter, Holdings Channel reports. The firm owned 72,448 shares of the specialty chemicals company’s stock after selling 9,477 shares during the period. Raymond James & Associates’ holdings in Innospec were worth $6,207,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Innospec by 1.7% during the first quarter. Vanguard Group Inc. now owns 2,763,854 shares of the specialty chemicals company’s stock valued at $255,795,000 after purchasing an additional 47,348 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Innospec by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,168,986 shares of the specialty chemicals company’s stock worth $108,190,000 after acquiring an additional 11,943 shares in the last quarter. Victory Capital Management Inc. increased its stake in Innospec by 16.2% in the second quarter. Victory Capital Management Inc. now owns 935,356 shares of the specialty chemicals company’s stock valued at $89,598,000 after acquiring an additional 130,375 shares during the last quarter. State Street Corp raised its position in Innospec by 1.9% during the second quarter. State Street Corp now owns 911,808 shares of the specialty chemicals company’s stock valued at $87,342,000 after purchasing an additional 16,835 shares in the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in shares of Innospec by 7.4% in the 1st quarter. Wasatch Advisors Inc. now owns 689,527 shares of the specialty chemicals company’s stock worth $63,816,000 after purchasing an additional 47,327 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

Innospec Stock Performance

Shares of Innospec stock opened at $109.72 on Friday. Innospec Inc. has a 52-week low of $83.13 and a 52-week high of $115.65. The company has a fifty day moving average of $106.91 and a 200-day moving average of $98.50. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 20.86 and a beta of 1.16.

Innospec (NASDAQ:IOSPGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The specialty chemicals company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.34. Innospec had a net margin of 7.04% and a return on equity of 14.37%. The business had revenue of $513.00 million during the quarter, compared to the consensus estimate of $468.35 million. On average, equities research analysts forecast that Innospec Inc. will post 6.22 earnings per share for the current fiscal year.

Innospec Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, November 28th. Investors of record on Monday, November 21st were given a dividend of $0.65 per share. This represents a yield of 1.2%. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.63. The ex-dividend date was Friday, November 18th. Innospec’s dividend payout ratio (DPR) is presently 24.71%.

Analysts Set New Price Targets

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Monday, December 19th.

Insiders Place Their Bets

In other news, SVP David B. Jones bought 752 shares of the business’s stock in a transaction dated Monday, December 5th. The shares were purchased at an average price of $107.99 per share, for a total transaction of $81,208.48. Following the completion of the acquisition, the senior vice president now owns 1,530 shares of the company’s stock, valued at $165,224.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.52% of the company’s stock.

Innospec Company Profile

(Get Rating)

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 various fuels.

See Also

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Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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