Innospec Inc. (NASDAQ:IOSP) Shares Purchased by Algert Global LLC

Algert Global LLC boosted its holdings in Innospec Inc. (NASDAQ:IOSP) by 15.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,512 shares of the specialty chemicals company’s stock after acquiring an additional 6,840 shares during the period. Algert Global LLC’s holdings in Innospec were worth $5,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Inspire Advisors LLC grew its stake in Innospec by 1.6% in the 2nd quarter. Inspire Advisors LLC now owns 6,819 shares of the specialty chemicals company’s stock valued at $843,000 after acquiring an additional 110 shares during the last quarter. Arizona State Retirement System grew its stake in Innospec by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 6,962 shares of the specialty chemicals company’s stock valued at $860,000 after acquiring an additional 128 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of 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 purchasing an additional 129 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of 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 purchasing an additional 155 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of 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 purchasing an additional 192 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Innospec

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of the business’s stock in a transaction that occurred 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 directly owns 12,996 shares in the company, valued at $1,491,161.04. The trade was a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Milton C. Blackmore sold 1,035 shares of the business’s 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 transaction, the director now directly owns 9,028 shares in the company, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

Innospec Price Performance

Innospec stock opened at $119.75 on Friday. Innospec Inc. has a 12-month low of $103.97 and a 12-month high of $133.71. The stock has a market capitalization of $2.99 billion, a P/E ratio of 20.90 and a beta of 1.08. The firm’s 50-day moving average is $113.87 and its two-hundred day moving average is $118.72.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (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 business had revenue of $443.40 million for the quarter, compared to analysts’ expectations of $442.13 million. During the same period last year, the company earned $1.59 earnings per share. The company’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, analysts forecast that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

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

Analyst Ratings Changes

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

Innospec 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.