Assenagon Asset Management S.A. Lowers Stake in Innospec Inc. (NASDAQ:IOSP)

Assenagon Asset Management S.A. lessened its holdings in Innospec Inc. (NASDAQ:IOSP) by 81.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,835 shares of the specialty chemicals company’s stock after selling 110,534 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Innospec worth $2,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in Innospec by 503.9% in the 3rd quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock worth $96,000 after acquiring an additional 650 shares during the last quarter. nVerses Capital LLC boosted its stake in Innospec by 200.0% during the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 600 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Innospec during the second quarter worth about $184,000. Point72 Asset Management L.P. purchased a new position in Innospec in the third quarter worth about $215,000. Finally, Claro Advisors LLC purchased a new position in Innospec in the fourth quarter worth about $220,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Trading Up 1.9 %

Shares of NASDAQ IOSP opened at $116.61 on Wednesday. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 20.35 and a beta of 1.09. Innospec Inc. has a 12-month low of $103.65 and a 12-month high of $133.71. The firm has a 50 day moving average of $113.99 and a 200 day moving average of $114.66.

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, meeting analysts’ consensus estimates of $1.35. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The company had revenue of $443.40 million for the quarter, compared to the consensus estimate of $442.13 million. During the same quarter in the prior year, the firm earned $1.59 earnings per share. Innospec’s revenue was down 4.5% on a year-over-year basis. Sell-side analysts predict that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were issued a dividend of $0.79 per share. This represents a 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 is presently 27.57%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 11th.

Insider Activity

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the firm’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.35% of the company’s stock.

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.