Algert Global LLC Grows Holdings in Innospec Inc. (NASDAQ:IOSP)

Algert Global LLC grew its stake in Innospec Inc. (NASDAQ:IOSP) by 15.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 51,512 shares of the specialty chemicals company’s stock after acquiring an additional 6,840 shares during the period. Algert Global LLC owned about 0.21% of Innospec worth $5,825,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Inspire Advisors LLC increased its stake in Innospec by 1.6% during the 2nd quarter. Inspire Advisors LLC now owns 6,819 shares of the specialty chemicals company’s stock worth $843,000 after buying an additional 110 shares during the period. Arizona State Retirement System increased its stake in Innospec by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 6,962 shares of the specialty chemicals company’s stock worth $860,000 after buying an additional 128 shares during the period. Texas Permanent School Fund Corp increased its stake in Innospec by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 21,891 shares of the specialty chemicals company’s stock worth $2,706,000 after buying an additional 129 shares during the period. Raymond James Trust N.A. increased its stake in Innospec by 7.9% during the 3rd quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock worth $238,000 after buying an additional 155 shares during the period. Finally, Evergreen Capital Management LLC increased its stake in Innospec by 8.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,421 shares of the specialty chemicals company’s stock worth $299,000 after buying an additional 192 shares during the period. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Stock Up 1.2 %

NASDAQ IOSP opened at $119.75 on Friday. Innospec Inc. has a 52 week low of $103.97 and a 52 week high of $133.71. The stock has a market capitalization of $2.99 billion, a PE ratio of 20.90 and a beta of 1.08. The firm has a 50 day moving average of $113.87 and a two-hundred day moving average of $118.72.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, hitting the consensus estimate of $1.35. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The company had revenue of $443.40 million during the quarter, compared to analysts’ expectations of $442.13 million. During the same quarter in the previous year, the business posted $1.59 EPS. The firm’s revenue was down 4.5% on a year-over-year basis. On average, equities research analysts expect that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be issued a $0.79 dividend. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. The ex-dividend date is Monday, November 18th. This represents a dividend yield of 1.3%. Innospec’s dividend payout ratio is presently 27.57%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the sale, the chief financial officer now owns 12,996 shares in the company, valued at $1,491,161.04. This represents a 20.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Milton C. Blackmore sold 1,035 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now owns 9,028 shares of the company’s stock, valued at approximately $1,109,721.76. This represents a 10.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

About Innospec

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.