Quantbot Technologies LP Acquires New Stake in Innospec Inc. (NASDAQ:IOSP)

Quantbot Technologies LP bought a new stake in Innospec Inc. (NASDAQ:IOSP) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 11,443 shares of the specialty chemicals company’s stock, valued at approximately $1,294,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of IOSP. Assenagon Asset Management S.A. raised its stake in shares of Innospec by 98.4% in the second quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock valued at $14,841,000 after acquiring an additional 59,554 shares in the last quarter. US Bancorp DE boosted its stake in shares of Innospec by 323.6% in the 3rd quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock valued at $621,000 after buying an additional 4,194 shares during the period. SG Americas Securities LLC grew its position in shares of Innospec by 660.1% during the second quarter. SG Americas Securities LLC now owns 9,767 shares of the specialty chemicals company’s stock worth $1,207,000 after buying an additional 8,482 shares in the last quarter. Quest Partners LLC increased its stake in shares of Innospec by 2,699.6% during the second quarter. Quest Partners LLC now owns 13,802 shares of the specialty chemicals company’s stock worth $1,706,000 after buying an additional 13,309 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of Innospec by 58.9% during the second quarter. TD Asset Management Inc now owns 17,000 shares of the specialty chemicals company’s stock worth $2,101,000 after buying an additional 6,300 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of Innospec 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 1.52% of the stock is owned by insiders.

Innospec Price Performance

Shares of NASDAQ IOSP opened at $118.61 on Friday. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 20.70 and a beta of 1.08. Innospec Inc. has a 1 year low of $103.97 and a 1 year high of $133.71. The business has a 50-day moving average of $114.50 and a two-hundred day moving average of $118.40.

Innospec (NASDAQ:IOSP) last released its quarterly 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. The company had revenue of $443.40 million for the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.59 EPS. As a group, equities research analysts expect that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were paid a dividend of $0.79 per share. The ex-dividend date was Monday, November 18th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. Innospec’s payout ratio is currently 27.57%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research report 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.