Pathstone Holdings LLC Sells 593 Shares of Innospec Inc. (NASDAQ:IOSP)

Pathstone Holdings LLC reduced its position in Innospec Inc. (NASDAQ:IOSP) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,697 shares of the specialty chemicals company’s stock after selling 593 shares during the quarter. Pathstone Holdings LLC’s holdings in Innospec were worth $1,775,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IOSP. DekaBank Deutsche Girozentrale bought a new position in Innospec in the 1st quarter valued at about $66,000. CWM LLC increased its holdings in 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 buying an additional 448 shares during the period. Blue Trust Inc. increased its holdings in Innospec by 503.9% in the 3rd 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 during the period. nVerses Capital LLC increased its holdings in Innospec by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 600 shares during the period. Finally, Point72 DIFC Ltd bought a new position in Innospec in the 2nd quarter valued at about $184,000. 96.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Innospec Trading Up 0.0 %

IOSP opened at $117.66 on Thursday. The company’s 50 day moving average is $114.18 and its 200-day moving average is $118.49. 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 $2.93 billion, a P/E ratio of 20.53 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. On average, equities analysts forecast that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were given a dividend of $0.79 per share. The ex-dividend date was Monday, November 18th. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. This represents a yield of 1.3%. Innospec’s dividend payout ratio (DPR) is currently 27.57%.

Insider Transactions at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of Innospec 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 sale, the director now owns 9,028 shares in the company, valued at $1,109,721.76. The trade was a 10.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.35% of the company’s stock.

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.