Quest Partners LLC Decreases Position in Innospec Inc. (NASDAQ:IOSP)

Quest Partners LLC cut its holdings in Innospec Inc. (NASDAQ:IOSP) by 97.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 304 shares of the specialty chemicals company’s stock after selling 13,498 shares during the period. Quest Partners LLC’s holdings in Innospec were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Inspire Advisors LLC boosted its holdings in Innospec by 1.6% during 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 period. Arizona State Retirement System grew its holdings in shares of Innospec by 1.9% in the second quarter. Arizona State Retirement System now owns 6,962 shares of the specialty chemicals company’s stock worth $860,000 after purchasing an additional 128 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Innospec by 0.6% in the second 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. Evergreen Capital Management LLC increased its stake in shares of Innospec by 8.6% in the second 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. Finally, Creative Planning raised its holdings in Innospec by 4.3% during the 2nd quarter. Creative Planning now owns 4,762 shares of the specialty chemicals company’s stock valued at $589,000 after buying an additional 195 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Price Performance

Shares of NASDAQ:IOSP opened at $118.61 on Monday. Innospec Inc. has a 1 year low of $103.97 and a 1 year high of $133.71. The stock’s 50-day moving average is $114.50 and its 200 day moving average is $118.22. The company has a market cap of $2.96 billion, a PE ratio of 20.70 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, meeting analysts’ consensus estimates of $1.35. The company had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 earnings per share. Analysts expect that Innospec Inc. will post 5.88 EPS for the current fiscal 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 given a $0.79 dividend. This represents a dividend yield of 1.3%. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. The ex-dividend date of this dividend was Monday, November 18th. Innospec’s dividend payout ratio (DPR) is currently 27.57%.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the sale, the director now directly owns 9,028 shares of the company’s stock, valued at $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.52% of the company’s stock.

Innospec Company 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.