Healthcare of Ontario Pension Plan Trust Fund Purchases New Position in Innospec Inc. (NASDAQ:IOSP)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Innospec Inc. (NASDAQ:IOSP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,000 shares of the specialty chemicals company’s stock, valued at approximately $1,470,000.

Several other large investors have also recently bought and sold shares of IOSP. Quantbot Technologies LP bought a new position in shares of Innospec during the third quarter worth $1,294,000. Algert Global LLC grew its stake in Innospec by 15.3% in the third quarter. Algert Global LLC now owns 51,512 shares of the specialty chemicals company’s stock valued at $5,825,000 after acquiring an additional 6,840 shares during the period. Cerity Partners LLC increased its holdings in shares of Innospec by 324.5% in the third quarter. Cerity Partners LLC now owns 13,664 shares of the specialty chemicals company’s stock worth $1,545,000 after acquiring an additional 10,445 shares in the last quarter. Citigroup Inc. raised its position in shares of Innospec by 46.1% during the third quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock worth $3,641,000 after purchasing an additional 10,162 shares during the period. Finally, Raymond James Trust N.A. raised its position in shares of Innospec by 7.9% during the third quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock worth $238,000 after purchasing an additional 155 shares during the period. Institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

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

Innospec Stock Performance

NASDAQ IOSP opened at $118.61 on Monday. Innospec Inc. has a 52 week low of $103.97 and a 52 week high of $133.71. The stock’s 50 day moving average price is $114.50 and its two-hundred day moving average price is $118.22. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 20.70 and a beta of 1.08.

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

Innospec Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were given a dividend of $0.79 per share. This represents a 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 27.57%.

Insider Buying and Selling at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the stock in a transaction dated 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 directly owns 9,028 shares of the company’s stock, valued at $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.52% of the company’s stock.

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.