Moran Wealth Management LLC Purchases 334 Shares of Innospec Inc. (NASDAQ:IOSP)

Moran Wealth Management LLC lifted its position in Innospec Inc. (NASDAQ:IOSP) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,009 shares of the specialty chemicals company’s stock after acquiring an additional 334 shares during the period. Moran Wealth Management LLC owned 0.18% of Innospec worth $4,621,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IOSP. Vanguard Group Inc. increased its stake in shares of Innospec by 1.3% during the third quarter. Vanguard Group Inc. now owns 2,846,362 shares of the specialty chemicals company’s stock valued at $243,847,000 after purchasing an additional 36,583 shares in the last quarter. Wasatch Advisors LP increased its stake in shares of Innospec by 19.1% during the first quarter. Wasatch Advisors LP now owns 2,111,067 shares of the specialty chemicals company’s stock valued at $216,743,000 after purchasing an additional 338,420 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Innospec by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,226,560 shares of the specialty chemicals company’s stock valued at $123,196,000 after purchasing an additional 9,398 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Innospec by 5.9% during the second quarter. Victory Capital Management Inc. now owns 1,138,570 shares of the specialty chemicals company’s stock valued at $114,358,000 after purchasing an additional 63,449 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Innospec by 1.9% during the second quarter. State Street Corp now owns 911,808 shares of the specialty chemicals company’s stock valued at $87,342,000 after purchasing an additional 16,835 shares in the last quarter. Institutional investors own 94.89% of the company’s stock.

Innospec Stock Performance

NASDAQ:IOSP opened at $108.47 on Tuesday. The firm has a market cap of $2.70 billion, a P/E ratio of 21.35 and a beta of 1.16. Innospec Inc. has a fifty-two week low of $91.74 and a fifty-two week high of $116.00. The firm has a 50-day simple moving average of $101.57 and a two-hundred day simple moving average of $101.72.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.14. The business had revenue of $464.10 million during the quarter, compared to analyst estimates of $481.17 million. Innospec had a net margin of 6.45% and a return on equity of 12.54%. Innospec’s revenue was down 9.5% compared to the same quarter last year. During the same period last year, the business earned $1.74 EPS. On average, equities research analysts predict that Innospec Inc. will post 5.85 EPS for the current year.

Innospec Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 20th will be issued a $0.72 dividend. This represents a yield of 1.4%. This is an increase from Innospec’s previous Semi-Annual dividend of $0.69. The ex-dividend date of this dividend is Friday, November 17th. Innospec’s dividend payout ratio (DPR) is presently 27.17%.

Insider Buying and Selling

In related news, Director Larry Padfield sold 977 shares of Innospec stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $101.54, for a total value of $99,204.58. Following the completion of the sale, the director now directly owns 6,600 shares in the company, valued at approximately $670,164. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Innospec in a research note on Thursday, October 5th. They set a “buy” rating for the company.

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 various fuels.