Raymond James & Associates Has $6.21 Million Position in Innospec Inc. (NASDAQ:IOSP)

Raymond James & Associates trimmed its holdings in Innospec Inc. (NASDAQ:IOSPGet Rating) by 11.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,448 shares of the specialty chemicals company’s stock after selling 9,477 shares during the quarter. Raymond James & Associates owned about 0.29% of Innospec worth $6,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Innospec by 8.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the specialty chemicals company’s stock valued at $165,000 after purchasing an additional 141 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Innospec by 10.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,872 shares of the specialty chemicals company’s stock worth $179,000 after acquiring an additional 180 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Innospec by 2.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 10,080 shares of the specialty chemicals company’s stock worth $966,000 after acquiring an additional 197 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Innospec by 1.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 20,364 shares of the specialty chemicals company’s stock valued at $1,951,000 after purchasing an additional 200 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Innospec by 74.7% during the first quarter. Captrust Financial Advisors now owns 498 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

Insider Activity

In related news, SVP David B. Jones purchased 752 shares of the stock in a transaction that occurred on Monday, December 5th. The shares were bought at an average price of $107.99 per share, with a total value of $81,208.48. Following the acquisition, the senior vice president now owns 1,530 shares of the company’s stock, valued at approximately $165,224.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.52% of the company’s stock.

Innospec Trading Up 1.4 %

Shares of IOSP opened at $109.72 on Friday. The stock has a 50 day moving average of $106.91 and a 200 day moving average of $98.50. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 20.86 and a beta of 1.16. Innospec Inc. has a 12 month low of $83.13 and a 12 month high of $115.65.

Innospec (NASDAQ:IOSPGet Rating) last announced its earnings results on Tuesday, November 8th. The specialty chemicals company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.34. The firm had revenue of $513.00 million during the quarter, compared to analyst estimates of $468.35 million. Innospec had a return on equity of 14.37% and a net margin of 7.04%. As a group, equities research analysts predict that Innospec Inc. will post 6.22 earnings per share for the current year.

Innospec Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 21st were paid a $0.65 dividend. This represents a yield of 1.2%. This is a boost from Innospec’s previous Semi-Annual dividend of $0.63. The ex-dividend date of this dividend was Friday, November 18th. Innospec’s payout ratio is presently 24.71%.

Analyst Upgrades and Downgrades

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

About Innospec

(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

Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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