Everence Capital Management Inc. Trims Position in Innospec Inc. (NASDAQ:IOSP)

Everence Capital Management Inc. decreased its position in Innospec Inc. (NASDAQ:IOSP) by 56.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,890 shares of the specialty chemicals company’s stock after selling 2,440 shares during the quarter. Everence Capital Management Inc.’s holdings in Innospec were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Innospec by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock worth $30,160,000 after purchasing an additional 52,640 shares during the period. Franklin Resources Inc. raised its position in Innospec by 8.6% in the third quarter. Franklin Resources Inc. now owns 27,282 shares of the specialty chemicals company’s stock worth $3,116,000 after acquiring an additional 2,154 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Innospec by 63.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,152 shares of the specialty chemicals company’s stock worth $377,000 after acquiring an additional 1,225 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Innospec by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 677,283 shares of the specialty chemicals company’s stock valued at $76,606,000 after acquiring an additional 24,843 shares during the period. Finally, Barclays PLC increased its stake in shares of Innospec by 357.1% in the 3rd quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company’s stock worth $5,039,000 after purchasing an additional 34,811 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Innospec from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd.

Insider Buying and Selling

In related news, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total transaction of $127,222.20. Following the completion of the transaction, the director now owns 9,028 shares in the company, valued at approximately $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.35% of the stock is currently owned by company insiders.

Innospec Trading Up 0.1 %

Shares of NASDAQ:IOSP opened at $106.62 on Thursday. The stock has a 50 day moving average of $114.98 and a 200 day moving average of $115.50. The company has a market cap of $2.66 billion, a PE ratio of 18.61 and a beta of 1.09. Innospec Inc. has a 12-month low of $103.97 and a 12-month high of $133.71.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data 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 firm 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%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 earnings per share. Equities research analysts predict that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

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

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.