The Manufacturers Life Insurance Company Sells 227 Shares of Innospec Inc. (NASDAQ:IOSP)

The Manufacturers Life Insurance Company decreased its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,665 shares of the specialty chemicals company’s stock after selling 227 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of Innospec worth $1,545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Innospec by 4.6% in 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 acquiring an additional 105,311 shares in the last quarter. Royce & Associates LP lifted its position in 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 acquiring an additional 70,902 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Innospec by 98.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after purchasing an additional 59,554 shares during the period. 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 in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Innospec by 4.8% in 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 purchasing an additional 41,449 shares during the period. 96.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Innospec from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

Insider Buying and Selling at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the transaction, the director now directly owns 9,028 shares of the company’s stock, valued at $1,109,721.76. The trade was a 10.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.35% of the company’s stock.

Innospec Trading Down 0.2 %

IOSP stock opened at $116.31 on Wednesday. The business’s 50 day simple moving average is $115.23 and its 200 day simple moving average is $117.64. The firm has a market capitalization of $2.90 billion, a PE ratio of 20.30 and a beta of 1.09. Innospec Inc. has a 1-year low of $103.97 and a 1-year high of $133.71.

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

Innospec Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were issued a $0.79 dividend. This represents a yield of 1.3%. The ex-dividend date was Monday, November 18th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s dividend payout ratio is presently 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.