Legacy Wealth Asset Management LLC Sells 110 Shares of Innospec Inc. (NASDAQ:IOSP)

Legacy Wealth Asset Management LLC cut its holdings in Innospec Inc. (NASDAQ:IOSP) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,410 shares of the specialty chemicals company’s stock after selling 110 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Innospec were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in Innospec by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock valued at $272,069,000 after buying an additional 105,311 shares during the period. Wasatch Advisors LP raised its stake in shares of Innospec by 0.6% in the third quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock valued at $204,189,000 after acquiring an additional 11,231 shares during the period. State Street Corp lifted its holdings in shares of Innospec by 2.1% in the 3rd quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock worth $112,669,000 after acquiring an additional 20,744 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Innospec by 4.8% during the 3rd quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock worth $102,689,000 after purchasing an additional 41,449 shares during the period. Finally, Royce & Associates LP raised its position in Innospec by 9.3% in the 3rd quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after purchasing an additional 70,902 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Trading Up 1.4 %

Shares of IOSP opened at $114.47 on Friday. The firm has a fifty day moving average price of $114.29 and a 200-day moving average price of $114.86. The firm has a market capitalization of $2.85 billion, a P/E ratio of 19.98 and a beta of 1.09. Innospec Inc. has a 12-month low of $103.65 and a 12-month high of $133.71.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data 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. The company had revenue of $443.40 million during the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.59 EPS. Analysts predict that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th.

Insider Buying and Selling at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the company’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 completion of the sale, the director now owns 9,028 shares of the company’s stock, valued at approximately $1,109,721.76. This represents 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. 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.