Amalgamated Bank Trims Stock Holdings in Innospec Inc. (NASDAQ:IOSP)

Amalgamated Bank lessened its position in shares of Innospec Inc. (NASDAQ:IOSP) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,358 shares of the specialty chemicals company’s stock after selling 261 shares during the quarter. Amalgamated Bank’s holdings in Innospec were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IOSP. ProShare Advisors LLC boosted its position in Innospec by 7.4% in the first quarter. ProShare Advisors LLC now owns 5,030 shares of the specialty chemicals company’s stock valued at $649,000 after buying an additional 347 shares during the last quarter. Motco purchased a new stake in shares of Innospec in the 1st quarter valued at $132,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Innospec in the first quarter worth $480,000. Vanguard Group Inc. raised its holdings in shares of Innospec by 5.5% during the first quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after purchasing an additional 161,249 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its holdings in shares of Innospec by 0.4% during the first quarter. Bahl & Gaynor Inc. now owns 36,161 shares of the specialty chemicals company’s stock worth $4,663,000 after purchasing an additional 160 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Ian Cleminson sold 3,398 shares of Innospec stock in a transaction dated 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 owns 12,996 shares in the company, valued at $1,491,161.04. This trade represents a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the transaction, the director now owns 9,028 shares of the company’s stock, valued at approximately $1,109,721.76. This trade represents a 10.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,035 shares of company stock valued at $1,267,096. 1.52% of the stock is owned by company insiders.

Innospec Trading Up 0.1 %

Shares of NASDAQ:IOSP 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. Innospec Inc. has a 12-month low of $103.97 and a 12-month high of $133.71. The business has a 50 day moving average of $112.24 and a two-hundred day moving average of $118.84.

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

Innospec Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Investors 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 of this dividend is Monday, November 18th. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s payout ratio is currently 26.53%.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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.