Public Sector Pension Investment Board Lowers Holdings in Innospec Inc. (NASDAQ:IOSP)

Public Sector Pension Investment Board lowered its position in shares of Innospec Inc. (NASDAQ:IOSP) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,957 shares of the specialty chemicals company’s stock after selling 1,900 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Innospec worth $5,989,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in IOSP. Allspring Global Investments Holdings LLC raised its holdings in Innospec by 4.6% during the third 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 in the last quarter. Victory Capital Management Inc. raised its stake in shares of Innospec by 4.8% during the 3rd quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock worth $102,689,000 after buying an additional 41,449 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Innospec by 9.3% in the 3rd quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock valued at $94,468,000 after buying an additional 70,902 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Innospec by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock valued at $38,057,000 after buying an additional 11,479 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Innospec by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 258,294 shares of the specialty chemicals company’s stock worth $31,923,000 after acquiring an additional 6,148 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Innospec Trading Up 0.8 %

Shares of IOSP opened at $118.61 on Friday. The firm has a market capitalization of $2.96 billion, a P/E ratio of 20.70 and a beta of 1.08. The firm’s 50-day moving average is $114.50 and its two-hundred day moving average is $118.40. Innospec Inc. has a twelve month low of $103.97 and a twelve month high of $133.71.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.35. The company had revenue of $443.40 million during the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 EPS. Analysts predict that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

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

Insiders Place Their Bets

In other news, Director Milton C. Blackmore sold 1,035 shares of the firm’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 transaction of $127,222.20. Following the completion of the sale, the director now owns 9,028 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is owned by company 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.