Dimensional Fund Advisors LP raised its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,242,089 shares of the specialty chemicals company's stock after purchasing an additional 66,967 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.99% of Innospec worth $90,698,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in IOSP. Allworth Financial LP grew its stake in shares of Innospec by 31.0% in the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company's stock valued at $45,000 after buying an additional 139 shares in the last quarter. State of Wyoming grew its position in shares of Innospec by 27.5% in the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company's stock valued at $67,000 after acquiring an additional 173 shares during the period. California State Teachers Retirement System increased its stake in shares of Innospec by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company's stock worth $1,939,000 after purchasing an additional 179 shares during the last quarter. Franklin Resources Inc. lifted its stake in Innospec by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company's stock valued at $2,150,000 after purchasing an additional 196 shares during the last quarter. Finally, Amundi increased its position in Innospec by 5.0% during the third quarter. Amundi now owns 4,490 shares of the specialty chemicals company's stock worth $354,000 after buying an additional 214 shares during the last quarter. Institutional investors own 96.64% of the company's stock.
Innospec Price Performance
Shares of NASDAQ:IOSP opened at $84.95 on Thursday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.37 and a beta of 0.93. The firm has a 50 day simple moving average of $82.72 and a 200 day simple moving average of $79.33. Innospec Inc. has a one year low of $65.51 and a one year high of $92.14.
Innospec (NASDAQ:IOSP - Get Free Report) last issued its earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.03. The firm had revenue of $453.20 million for the quarter, compared to analyst estimates of $432.14 million. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The company's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.42 earnings per share. As a group, analysts expect that Innospec Inc. will post 4.84 EPS for the current year.
Innospec Dividend Announcement
The company also recently announced a dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a $0.92 dividend. This represents a yield of 239.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Innospec's dividend payout ratio is presently 40.09%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on IOSP shares. Weiss Ratings raised shares of Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 1st. Wall Street Zen upgraded Innospec from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Finally, Zacks Research raised shares of Innospec from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".
Check Out Our Latest Report on Innospec
Innospec Company Profile
(
Free Report)
Innospec Incorporated NASDAQ: IOSP is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.
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