Edgestream Partners L.P. Invests $5.49 Million in Innospec Inc. (NASDAQ:IOSP)

Edgestream Partners L.P. purchased a new position in shares of Innospec Inc. (NASDAQ:IOSP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 48,512 shares of the specialty chemicals company’s stock, valued at approximately $5,486,000. Edgestream Partners L.P. owned about 0.19% of Innospec as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Innospec in the third quarter worth about $1,470,000. Quantbot Technologies LP bought a new position in Innospec in the third quarter worth about $1,294,000. Algert Global LLC lifted its holdings in Innospec by 15.3% in the third quarter. Algert Global LLC now owns 51,512 shares of the specialty chemicals company’s stock worth $5,825,000 after acquiring an additional 6,840 shares during the last quarter. Cerity Partners LLC lifted its holdings in Innospec by 324.5% in the third quarter. Cerity Partners LLC now owns 13,664 shares of the specialty chemicals company’s stock worth $1,545,000 after acquiring an additional 10,445 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Innospec by 46.1% during the third quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock valued at $3,641,000 after buying an additional 10,162 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Insider Transactions at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were 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 of the company’s stock, valued at approximately $1,109,721.76. This trade represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Innospec Trading Up 0.8 %

IOSP opened at $118.61 on Friday. The business’s 50 day moving average is $114.50 and its 200-day moving average is $118.31. The stock has a market cap of $2.96 billion, a PE ratio of 20.70 and a beta of 1.08. Innospec Inc. has a twelve month low of $103.97 and a twelve month high of $133.71.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.35. The company had revenue of $443.40 million during 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%. Innospec’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 EPS. 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 was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were paid a dividend of $0.79 per share. This represents a dividend 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 (DPR) is currently 27.57%.

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.