Victory Capital Management Inc. Acquires 41,449 Shares of Innospec Inc. (NASDAQ:IOSP)

Victory Capital Management Inc. lifted its holdings in Innospec Inc. (NASDAQ:IOSP) by 4.8% in the third quarter, HoldingsChannel reports. The fund owned 908,032 shares of the specialty chemicals company’s stock after buying an additional 41,449 shares during the period. Victory Capital Management Inc.’s holdings in Innospec were worth $102,689,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IOSP. Sei Investments Co. lifted its stake in shares of Innospec by 4.9% in the 1st quarter. Sei Investments Co. now owns 138,788 shares of the specialty chemicals company’s stock valued at $17,895,000 after acquiring an additional 6,532 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Innospec by 7.4% during the first quarter. ProShare Advisors LLC now owns 5,030 shares of the specialty chemicals company’s stock valued at $649,000 after purchasing an additional 347 shares during the period. Motco bought a new position in shares of Innospec in the first quarter worth approximately $132,000. Jupiter Asset Management Ltd. purchased a new position in shares of Innospec in the first quarter worth $480,000. Finally, Vanguard Group Inc. raised its holdings in Innospec by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock valued at $401,670,000 after buying an additional 161,249 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Innospec Price Performance

IOSP opened at $121.78 on Thursday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 21.25 and a beta of 1.08. Innospec Inc. has a one year low of $103.97 and a one year high of $133.71. The business has a 50 day simple moving average of $112.24 and a two-hundred day simple moving average of $118.84.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, hitting analysts’ consensus estimates of $1.35. The company had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 earnings per share. As a group, sell-side analysts expect that Innospec Inc. will post 5.88 EPS for the current fiscal year.

Innospec Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be paid a $0.79 dividend. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. This represents a yield of 1.3%. The ex-dividend date is Monday, November 18th. Innospec’s dividend payout ratio is presently 26.53%.

Insiders Place Their Bets

In other news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $114.74, for a total value of $389,886.52. Following the completion of the transaction, the chief financial officer now owns 12,996 shares of the company’s stock, valued at approximately $1,491,161.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is currently owned by company insiders.

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.