Victory Capital Management Inc. Grows Position in Innospec Inc. (NASDAQ:IOSP)

Victory Capital Management Inc. grew its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 4.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 908,032 shares of the specialty chemicals company’s stock after purchasing an additional 41,449 shares during the quarter. Victory Capital Management Inc. owned about 3.64% of Innospec worth $102,689,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Inspire Advisors LLC boosted its holdings in Innospec by 1.6% in the 2nd quarter. Inspire Advisors LLC now owns 6,819 shares of the specialty chemicals company’s stock worth $843,000 after buying an additional 110 shares during the period. Arizona State Retirement System boosted its holdings in shares of Innospec by 1.9% in the second quarter. Arizona State Retirement System now owns 6,962 shares of the specialty chemicals company’s stock worth $860,000 after acquiring an additional 128 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Innospec by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 21,891 shares of the specialty chemicals company’s stock valued at $2,706,000 after purchasing an additional 129 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in shares of Innospec by 0.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 36,161 shares of the specialty chemicals company’s stock valued at $4,663,000 after purchasing an additional 160 shares during the period. Finally, Evergreen Capital Management LLC lifted its holdings in Innospec by 8.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,421 shares of the specialty chemicals company’s stock worth $299,000 after purchasing an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Trading Down 0.1 %

Innospec stock opened at $121.78 on Thursday. Innospec Inc. has a 1-year low of $103.97 and a 1-year high of $133.71. The firm has a market capitalization of $3.04 billion, a PE ratio of 21.25 and a beta of 1.08. The firm’s 50 day simple moving average is $112.24 and its 200 day simple moving average is $118.84.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 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 firm had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. During the same period in the previous year, the business earned $1.59 EPS. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. Research analysts forecast that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

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

Insider Activity

In related news, CFO Ian Cleminson sold 3,398 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $114.74, for a total value of $389,886.52. Following the sale, the chief financial officer now directly owns 12,996 shares of the company’s stock, valued at $1,491,161.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

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

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.