Brown Advisory Inc. Buys Shares of 329,415 Innospec Inc. (NASDAQ:IOSP)

Brown Advisory Inc. bought a new position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 329,415 shares of the specialty chemicals company's stock, valued at approximately $31,212,000. Brown Advisory Inc. owned approximately 1.31% of Innospec as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers increased its position in Innospec by 9.3% during the 1st quarter. Rhumbline Advisers now owns 77,760 shares of the specialty chemicals company's stock worth $7,368,000 after purchasing an additional 6,602 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Innospec by 14.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,554 shares of the specialty chemicals company's stock worth $3,033,000 after purchasing an additional 3,578 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Innospec during the 4th quarter worth approximately $1,623,000. Charles Schwab Investment Management Inc. increased its position in Innospec by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 352,577 shares of the specialty chemicals company's stock worth $38,805,000 after purchasing an additional 16,055 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Innospec by 7.1% during the 4th quarter. Wells Fargo & Company MN now owns 55,702 shares of the specialty chemicals company's stock worth $6,131,000 after purchasing an additional 3,696 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Insider Buying and Selling at Innospec

In related news, Director Leslie J. Parrette sold 446 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $90.63, for a total transaction of $40,420.98. Following the transaction, the director directly owned 5,497 shares in the company, valued at $498,193.11. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.31% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Seaport Res Ptn raised shares of Innospec from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Wall Street Zen downgraded shares of Innospec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th.

Innospec Trading Down 1.2%

NASDAQ:IOSP traded down $1.06 during trading hours on Friday, hitting $88.26. The stock had a trading volume of 136,376 shares, compared to its average volume of 167,437. Innospec Inc. has a 1-year low of $80.32 and a 1-year high of $133.53. The business has a 50 day simple moving average of $87.05 and a two-hundred day simple moving average of $96.28. The company has a market cap of $2.20 billion, a PE ratio of 81.72 and a beta of 1.05.

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

Innospec Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a dividend yield of 1.7%. This is an increase from Innospec's previous semi-annual dividend of $0.79. Innospec's dividend payout ratio (DPR) is presently 155.56%.

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.