Quantbot Technologies LP Acquires Shares of 11,443 Innospec Inc. (NASDAQ:IOSP)

Quantbot Technologies LP bought a new stake in Innospec Inc. (NASDAQ:IOSP) in the 3rd quarter, Holdings Channel reports. The fund bought 11,443 shares of the specialty chemicals company’s stock, valued at approximately $1,294,000.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in Innospec by 4.6% in 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 buying an additional 105,311 shares during the last quarter. Royce & Associates LP boosted its holdings in Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock valued at $94,468,000 after purchasing an additional 70,902 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Innospec by 98.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock valued at $14,841,000 after purchasing an additional 59,554 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Innospec by 117.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 81,311 shares of the specialty chemicals company’s stock worth $10,049,000 after purchasing an additional 43,898 shares during the last quarter. Finally, Victory Capital Management Inc. boosted 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 valued at $102,689,000 after buying an additional 41,449 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Milton C. Blackmore sold 1,035 shares of the business’s stock in a transaction 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 transaction, the director now owns 9,028 shares of the company’s stock, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Innospec Stock Performance

Shares of IOSP stock opened at $118.61 on Friday. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 20.70 and a beta of 1.08. Innospec Inc. has a one year low of $103.97 and a one year high of $133.71. The company’s 50-day simple moving average is $114.50 and its 200-day simple moving average is $118.40.

Innospec (NASDAQ:IOSP) last released its 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 company had revenue of $443.40 million for 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%. Innospec’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 EPS. As a group, research analysts forecast 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. Investors of record on Monday, November 18th were paid a dividend of $0.79 per share. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. The ex-dividend date was Monday, November 18th. This represents a yield of 1.3%. Innospec’s dividend payout ratio is 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.