Assenagon Asset Management S.A. Has $9.98 Million Stake in Innospec Inc. $IOSP

Assenagon Asset Management S.A. grew its position in Innospec Inc. (NASDAQ:IOSP) by 512.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,397 shares of the specialty chemicals company’s stock after purchasing an additional 108,254 shares during the period. Assenagon Asset Management S.A. owned approximately 0.52% of Innospec worth $9,984,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. raised its position in Innospec by 17.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,995 shares of the specialty chemicals company’s stock valued at $473,000 after buying an additional 753 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Innospec by 27.7% in the first quarter. American Century Companies Inc. now owns 47,545 shares of the specialty chemicals company’s stock worth $4,505,000 after purchasing an additional 10,309 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Innospec in the first quarter worth $1,516,000. Hsbc Holdings PLC grew its position in Innospec by 2.9% in the first quarter. Hsbc Holdings PLC now owns 7,398 shares of the specialty chemicals company’s stock valued at $700,000 after purchasing an additional 208 shares in the last quarter. Finally, Jump Financial LLC increased its stake in Innospec by 10.3% in the 1st quarter. Jump Financial LLC now owns 7,451 shares of the specialty chemicals company’s stock valued at $706,000 after buying an additional 693 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Leslie J. Parrette bought 340 shares of Innospec stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $74.09 per share, with a total value of $25,190.60. Following the acquisition, the director owned 5,837 shares of the company’s stock, valued at approximately $432,463.33. This represents a 6.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Innospec in a research report on Tuesday. Finally, Zacks Research cut shares of Innospec from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Innospec Stock Down 2.1%

IOSP opened at $77.63 on Friday. Innospec Inc. has a 12-month low of $70.10 and a 12-month high of $117.08. The business has a 50 day moving average of $74.83 and a 200-day moving average of $80.39. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -2,587.67 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last posted its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. Innospec had a positive return on equity of 10.28% and a negative net margin of 0.07%.The business had revenue of $441.90 million for the quarter, compared to analyst estimates of $443.00 million. During the same period in the previous year, the firm earned $1.35 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, analysts expect that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were given a $0.87 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a dividend yield of 245.0%. Innospec’s dividend payout ratio is presently -5,800.00%.

Innospec Profile

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.