Innospec Inc. (NASDAQ:IOSP) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. increased its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 436.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,039 shares of the specialty chemicals company's stock after acquiring an additional 56,991 shares during the period. Edgestream Partners L.P. owned approximately 0.28% of Innospec worth $6,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tsfg LLC purchased a new position in Innospec in the 1st quarter worth $35,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Innospec during the 4th quarter valued at about $106,000. Covestor Ltd raised its stake in shares of Innospec by 13.9% during the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company's stock valued at $106,000 after buying an additional 118 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in shares of Innospec during the 4th quarter valued at about $201,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Innospec by 8.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company's stock valued at $206,000 after buying an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Innospec Stock Up 0.6%

NASDAQ IOSP traded up $0.48 on Thursday, reaching $85.01. The stock had a trading volume of 237,111 shares, compared to its average volume of 167,100. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 78.71 and a beta of 1.05. Innospec Inc. has a 12-month low of $80.32 and a 12-month high of $133.53. The stock has a fifty day moving average price of $86.66 and a two-hundred day moving average price of $95.96.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. The business had revenue of $440.80 million during the quarter, compared to the consensus estimate of $466.50 million. Innospec had a net margin of 1.51% and a return on equity of 11.38%. The company's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.75 earnings per share. Sell-side analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were paid a $0.84 dividend. This is an increase from Innospec's previous semi-annual dividend of $0.79. The ex-dividend date was Tuesday, May 20th. This represents a dividend yield of 1.7%. Innospec's payout ratio is 155.56%.

Wall Street Analyst Weigh In

IOSP has been the subject of a number of recent research reports. Wall Street Zen lowered Innospec from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Seaport Res Ptn upgraded Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st.

Insider Activity at Innospec

In related news, Director Leslie J. Parrette sold 446 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total transaction of $40,420.98. Following the completion of the transaction, the director owned 5,497 shares in the company, valued at approximately $498,193.11. The trade was a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.31% of the stock is currently owned by company insiders.

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.