Comerica Bank Sells 2,165 Shares of Innospec Inc. (NASDAQ:IOSP)

Comerica Bank trimmed its holdings in shares of Innospec Inc. (NASDAQ:IOSP – Get Rating) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,962 shares of the specialty chemicals company’s stock after selling 2,165 shares during the period. Comerica Bank owned about 0.08% of Innospec worth $1,790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pinebridge Investments L.P. bought a new stake in Innospec in the second quarter worth about $29,000. Captrust Financial Advisors raised its holdings in shares of Innospec by 74.7% in the 1st quarter. Captrust Financial Advisors now owns 498 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 213 shares during the period. Point72 Hong Kong Ltd purchased a new position in Innospec in the first quarter valued at approximately $53,000. Toth Financial Advisory Corp bought a new position in Innospec during the second quarter valued at $80,000. Finally, Lazard Asset Management LLC purchased a new stake in Innospec in the second quarter worth $94,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Innospec Stock Down 0.0 %

Shares of NASDAQ:IOSP opened at $111.21 on Friday. The firm has a market capitalization of $2.75 billion, a PE ratio of 21.14 and a beta of 1.16. Innospec Inc. has a twelve month low of $83.13 and a twelve month high of $115.65. The company has a 50-day moving average price of $107.55 and a two-hundred day moving average price of $99.01.

Innospec (NASDAQ:IOSP – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The specialty chemicals company reported $1.74 EPS 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 company had revenue of $513.00 million during the quarter, compared to the consensus estimate of $468.35 million. Analysts anticipate that Innospec Inc. will post 6.22 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Friday, November 18th. This represents a yield of 1.2%. This is an increase from Innospec’s previous Semi-Annual dividend of $0.63. Innospec’s dividend payout ratio (DPR) is currently 24.71%.

Insiders Place Their Bets

In other news, SVP David B. Jones acquired 752 shares of the business’s stock in a transaction dated Monday, December 5th. The stock was bought at an average cost of $107.99 per share, for a total transaction of $81,208.48. Following the completion of the transaction, the senior vice president now owns 1,530 shares of the company’s stock, valued at $165,224.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About Innospec

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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.