Martingale Asset Management L P Sells 10,107 Shares of Innospec Inc. (NASDAQ:IOSP)

Martingale Asset Management L P lessened its stake in Innospec Inc. (NASDAQ:IOSP) by 76.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,100 shares of the specialty chemicals company’s stock after selling 10,107 shares during the period. Martingale Asset Management L P’s holdings in Innospec were worth $351,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in IOSP. DekaBank Deutsche Girozentrale bought a new stake in shares of Innospec in the 1st quarter worth approximately $66,000. CWM LLC raised its stake in shares of Innospec by 239.6% in the second 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. Blue Trust Inc. lifted its position in Innospec by 503.9% in the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock worth $96,000 after purchasing an additional 650 shares during the period. nVerses Capital LLC boosted its stake in Innospec by 200.0% during the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 600 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Innospec during the second quarter worth $184,000. Institutional investors own 96.64% of the company’s stock.

Innospec Stock Down 0.8 %

Shares of IOSP opened at $119.45 on Wednesday. The company has a 50-day moving average price of $114.81 and a two-hundred day moving average price of $118.08. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 20.85 and a beta of 1.09. Innospec Inc. has a 12 month low of $103.97 and a 12 month high of $133.71.

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 return on equity of 13.33% and a net margin of 7.68%. 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 company earned $1.59 EPS. Innospec’s revenue was down 4.5% on a year-over-year basis. Equities research analysts expect that Innospec Inc. will post 5.88 EPS for the current fiscal year.

Innospec Increases Dividend

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

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Milton C. Blackmore sold 1,035 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This represents a 10.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.35% of the stock is currently owned by corporate insiders.

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.