Innospec Inc. (NASDAQ:IOSP) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 3.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,358 shares of the specialty chemicals company’s stock after selling 261 shares during the period. Amalgamated Bank’s holdings in Innospec were worth $832,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Innospec by 5.5% in the first quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after buying an additional 161,249 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 worth $272,069,000 after purchasing an additional 105,311 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Innospec by 98.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after purchasing an additional 59,554 shares in the last quarter. Gendell Jeffrey L acquired a new position in shares of Innospec during the 1st quarter worth approximately $7,090,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Innospec by 117.3% in the second quarter. Cubist Systematic Strategies LLC now owns 81,311 shares of the specialty chemicals company’s stock valued at $10,049,000 after purchasing an additional 43,898 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Price Performance

Shares of IOSP stock opened at $121.85 on Friday. The company has a market capitalization of $3.04 billion, a PE ratio of 21.27 and a beta of 1.08. The firm’s 50-day moving average is $112.24 and its two-hundred day moving average is $118.84. 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 results 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. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The business had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. During the same quarter last year, the firm earned $1.59 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. Sell-side analysts forecast 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 will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be paid a $0.79 dividend. This represents a dividend yield of 1.3%. The ex-dividend date is Monday, November 18th. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s dividend payout ratio is 26.53%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the company’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 value of $127,222.20. Following the transaction, the director now directly owns 9,028 shares in the company, valued at approximately $1,109,721.76. This represents a 10.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ian Cleminson sold 6,602 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $113.60, for a total value of $749,987.20. Following the completion of the sale, the chief financial officer now directly owns 16,394 shares in the company, valued at approximately $1,862,358.40. The trade was a 28.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,035 shares of company stock worth $1,267,096. 1.52% of the stock is currently owned by company insiders.

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.