Piedmont Investment Advisors LLC trimmed its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 23.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,835 shares of the specialty chemicals company’s stock after selling 5,860 shares during the period. Piedmont Investment Advisors LLC owned about 0.08% of Innospec worth $1,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Aperio Group LLC grew its stake in Innospec by 12.6% in the 2nd quarter. Aperio Group LLC now owns 7,279 shares of the specialty chemicals company’s stock worth $477,000 after acquiring an additional 814 shares during the period. Strs Ohio grew its stake in Innospec by 6.3% in the 2nd quarter. Strs Ohio now owns 13,600 shares of the specialty chemicals company’s stock worth $891,000 after acquiring an additional 800 shares during the period. Great West Life Assurance Co. Can grew its stake in Innospec by 3.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 35,015 shares of the specialty chemicals company’s stock worth $2,293,000 after acquiring an additional 1,020 shares during the period. Texas Permanent School Fund grew its stake in Innospec by 1.1% in the 2nd quarter. Texas Permanent School Fund now owns 17,618 shares of the specialty chemicals company’s stock worth $1,155,000 after acquiring an additional 190 shares during the period. Finally, Sei Investments Co. grew its stake in Innospec by 100.1% in the 2nd quarter. Sei Investments Co. now owns 36,827 shares of the specialty chemicals company’s stock worth $2,414,000 after acquiring an additional 18,420 shares during the period. 91.20% of the stock is owned by institutional investors and hedge funds.

IOSP has been the subject of several recent analyst reports. Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, August 22nd. Zacks Investment Research raised shares of Innospec from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Friday, November 10th. KeyCorp reaffirmed an “overweight” rating on shares of Innospec in a research note on Thursday, November 9th. ValuEngine raised shares of Innospec from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, Johnson Rice raised shares of Innospec from a “hold” rating to an “accumulate” rating in a research note on Tuesday, November 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $70.50.

In other Innospec news, VP Brian Watt sold 440 shares of Innospec stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $70.17, for a total value of $30,874.80. Following the transaction, the vice president now owns 30,730 shares in the company, valued at approximately $2,156,324.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick Williams sold 15,000 shares of Innospec stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $71.49, for a total transaction of $1,072,350.00. Following the completion of the transaction, the chief executive officer now owns 174,242 shares in the company, valued at approximately $12,456,560.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,366 shares of company stock worth $1,743,891. 2.02% of the stock is owned by company insiders.

Innospec Inc. (NASDAQ IOSP) opened at $68.80 on Friday. The firm has a market cap of $1,649.80, a price-to-earnings ratio of 16.08 and a beta of 1.20. Innospec Inc. has a 1-year low of $54.10 and a 1-year high of $74.75. The company has a quick ratio of 1.35, a current ratio of 2.24 and a debt-to-equity ratio of 0.30.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.15. The company had revenue of $332.40 million for the quarter, compared to analyst estimates of $309.40 million. Innospec had a net margin of 7.45% and a return on equity of 15.05%. Innospec’s revenue for the quarter was up 61.8% on a year-over-year basis. During the same quarter last year, the business earned $0.78 EPS. equities research analysts expect that Innospec Inc. will post 4.3 earnings per share for the current year.

The business also recently declared a semiannual dividend, which was paid on Monday, November 27th. Shareholders of record on Thursday, November 16th were issued a $0.39 dividend. This represents a dividend yield of 1.12%. The ex-dividend date was Wednesday, November 15th. This is a positive change from Innospec’s previous semiannual dividend of $0.38. Innospec’s dividend payout ratio (DPR) is 21.61%.

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Innospec Company Profile

Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.

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Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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