HighTower Advisors LLC Acquires 154 Shares of Innospec Inc. (NASDAQ:IOSP)

HighTower Advisors LLC raised its holdings in Innospec Inc. (NASDAQ:IOSP) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,103 shares of the specialty chemicals company’s stock after acquiring an additional 154 shares during the period. HighTower Advisors LLC’s holdings in Innospec were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of IOSP. Allspring Global Investments Holdings LLC grew its position in shares of Innospec by 4.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock valued at $272,069,000 after purchasing an additional 105,311 shares during the period. Wasatch Advisors LP lifted its stake in Innospec by 0.6% in the third quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock valued at $204,189,000 after buying an additional 11,231 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Innospec by 4.8% in the third quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock valued at $102,689,000 after buying an additional 41,449 shares during the period. Royce & Associates LP increased its position in shares of Innospec by 9.3% during the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after acquiring an additional 70,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Innospec by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock worth $38,057,000 after acquiring an additional 11,479 shares during the period. 96.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the business’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through this link. Insiders own 1.52% of the company’s stock.

Innospec Price Performance

IOSP stock opened at $109.71 on Monday. The stock has a market capitalization of $2.74 billion, a P/E ratio of 19.15 and a beta of 1.09. Innospec Inc. has a fifty-two week low of $103.97 and a fifty-two week high of $133.71. The business has a 50-day moving average of $115.50 and a 200-day moving average of $116.78.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.35. The firm 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 business’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.59 EPS. Equities analysts expect that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders 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. This represents a yield of 1.3%. The ex-dividend date was Monday, November 18th. Innospec’s payout ratio is presently 27.57%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th.

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.