Dean Investment Associates LLC decreased its position in Innospec Inc. (NASDAQ:IOSP) by 29.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,073 shares of the specialty chemicals company’s stock after selling 12,925 shares during the quarter. Dean Investment Associates LLC owned about 0.13% of Innospec worth $2,590,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its stake in shares of Innospec by 2.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 175,571 shares of the specialty chemicals company’s stock valued at $10,843,000 after purchasing an additional 4,091 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in Innospec by 38.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,869 shares of the specialty chemicals company’s stock worth $1,845,000 after acquiring an additional 8,273 shares in the last quarter. BlackRock Inc. raised its stake in Innospec by 1.8% during the fourth quarter. BlackRock Inc. now owns 3,993,716 shares of the specialty chemicals company’s stock worth $246,650,000 after acquiring an additional 72,441 shares in the last quarter. GSA Capital Partners LLP raised its stake in Innospec by 192.6% during the fourth quarter. GSA Capital Partners LLP now owns 8,137 shares of the specialty chemicals company’s stock worth $503,000 after acquiring an additional 5,356 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in Innospec by 173.5% during the fourth quarter. LS Investment Advisors LLC now owns 1,972 shares of the specialty chemicals company’s stock worth $122,000 after acquiring an additional 1,251 shares in the last quarter. 93.34% of the stock is owned by institutional investors and hedge funds.
Several research firms have issued reports on IOSP. ValuEngine upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research upgraded Innospec from a “hold” rating to a “strong-buy” rating and set a $94.00 price objective for the company in a research note on Friday, March 1st. Finally, BidaskClub upgraded Innospec from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 9th.
In related news, VP Catherine Hessner sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $83.64, for a total value of $167,280.00. Following the transaction, the vice president now owns 20,923 shares in the company, valued at $1,749,999.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 4,300 shares of company stock worth $356,236. 1.62% of the stock is owned by company insiders.
Shares of IOSP stock traded up $0.04 during trading hours on Friday, hitting $85.65. 100,061 shares of the company’s stock were exchanged, compared to its average volume of 93,338. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.28. The stock has a market capitalization of $2.08 billion, a PE ratio of 17.73 and a beta of 1.28. Innospec Inc. has a 52 week low of $53.07 and a 52 week high of $88.84.
Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, May 7th. The specialty chemicals company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $388.30 million for the quarter. Innospec had a return on equity of 14.92% and a net margin of 6.08%. Innospec’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 EPS. As a group, analysts forecast that Innospec Inc. will post 5.15 earnings per share for the current fiscal year.
The company also recently declared a Semi-Annual dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, May 21st were issued a $0.50 dividend. This represents a yield of 1.18%. The ex-dividend date was Monday, May 20th. Innospec’s dividend payout ratio is 20.70%.
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Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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