Edgestream Partners L.P. Buys Shares of 48,512 Innospec Inc. (NASDAQ:IOSP)

Edgestream Partners L.P. bought a new stake in Innospec Inc. (NASDAQ:IOSP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 48,512 shares of the specialty chemicals company’s stock, valued at approximately $5,486,000.

A number of other hedge funds also recently made changes to their positions in IOSP. Price T Rowe Associates Inc. MD boosted its stake in shares of Innospec by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,228 shares of the specialty chemicals company’s stock valued at $2,222,000 after purchasing an additional 916 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Innospec in the 1st quarter valued at approximately $66,000. CWM LLC boosted its stake in shares of Innospec by 239.6% in the 2nd quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock valued at $78,000 after purchasing an additional 448 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in Innospec by 2.0% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 12,042 shares of the specialty chemicals company’s stock worth $1,488,000 after buying an additional 235 shares during the period. Finally, SG Americas Securities LLC boosted its position in Innospec by 660.1% during the 2nd quarter. SG Americas Securities LLC now owns 9,767 shares of the specialty chemicals company’s stock worth $1,207,000 after buying an additional 8,482 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of 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 business’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 owns 9,028 shares in the company, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.52% of the company’s stock.

Innospec Price Performance

NASDAQ:IOSP opened at $118.61 on Friday. The firm’s 50 day simple moving average is $114.50 and its 200 day simple moving average is $118.31. Innospec Inc. has a one year low of $103.97 and a one year high of $133.71. The company has a market cap of $2.96 billion, a PE ratio of 20.70 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $442.13 million. During the same period last year, the company earned $1.59 EPS. The firm’s revenue was down 4.5% compared to the same quarter last year. Equities research analysts expect that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a dividend yield of 1.3%. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s payout ratio is 27.57%.

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.