Innospec Inc. (NASDAQ:IOSP) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in Innospec Inc. (NASDAQ:IOSP) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,934 shares of the specialty chemicals company’s stock after selling 202 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.08% of Innospec worth $2,254,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Innospec during the 1st quarter worth approximately $66,000. CWM LLC grew its position in Innospec by 239.6% during the second quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock valued at $78,000 after buying an additional 448 shares during the period. Blue Trust Inc. increased its holdings in Innospec by 503.9% in the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock valued at $96,000 after buying an additional 650 shares in the last quarter. nVerses Capital LLC raised its position in shares of Innospec by 200.0% in 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 during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of Innospec during the 1st quarter worth about $147,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Insiders Place Their Bets

In other news, CFO Ian Cleminson sold 6,602 shares of Innospec stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $113.60, for a total value of $749,987.20. Following the sale, the chief financial officer now directly owns 16,394 shares of the company’s stock, valued at $1,862,358.40. The trade was a 28.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Milton C. Blackmore sold 1,035 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total value 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 represents a 10.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,035 shares of company stock worth $1,267,096. Corporate insiders own 1.52% of the company’s stock.

Innospec Price Performance

Shares of IOSP stock opened at $119.03 on Friday. Innospec Inc. has a 1-year low of $103.97 and a 1-year high of $133.71. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 20.77 and a beta of 1.08. The stock has a 50 day simple moving average of $112.76 and a 200-day simple moving average of $118.84.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $442.13 million. During the same period in the prior year, the business posted $1.59 earnings per share. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. Analysts anticipate that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be issued a $0.79 dividend. 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 is Monday, November 18th. Innospec’s payout ratio is presently 27.57%.

About Innospec

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.