Edgestream Partners L.P. boosted its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 436.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,039 shares of the specialty chemicals company's stock after acquiring an additional 56,991 shares during the quarter. Edgestream Partners L.P. owned about 0.28% of Innospec worth $6,636,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Innospec by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 132,493 shares of the specialty chemicals company's stock valued at $12,554,000 after purchasing an additional 3,045 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Innospec by 9.3% during the first quarter. Rhumbline Advisers now owns 77,760 shares of the specialty chemicals company's stock valued at $7,368,000 after purchasing an additional 6,602 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Innospec by 14.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 27,554 shares of the specialty chemicals company's stock worth $3,033,000 after acquiring an additional 3,578 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Innospec in the 4th quarter worth about $1,623,000. Finally, Wells Fargo & Company MN raised its stake in shares of 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. Hedge funds and other institutional investors own 96.64% of the company's stock.
Insider Activity at Innospec
In other news, Director Leslie J. Parrette sold 446 shares of Innospec stock in a transaction that occurred 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 sale, the director owned 5,497 shares of the company's stock, valued at approximately $498,193.11. This trade represents a 7.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.31% of the stock is currently owned by company insiders.
Analyst Ratings Changes
IOSP has been the topic of a number of analyst reports. Wall Street Zen lowered Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Seaport Res Ptn raised Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st.
Get Our Latest Stock Analysis on IOSP
Innospec Stock Performance
Shares of NASDAQ IOSP traded down $1.95 during mid-day trading on Friday, reaching $83.06. 71,964 shares of the company traded hands, compared to its average volume of 203,440. The stock has a market cap of $2.07 billion, a PE ratio of 77.04 and a beta of 1.05. The company's fifty day moving average is $86.49 and its two-hundred day moving average is $95.79. Innospec Inc. has a fifty-two week low of $80.32 and a fifty-two week high of $133.53.
Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. Innospec had a return on equity of 11.38% and a net margin of 1.51%. The firm had revenue of $440.80 million for the quarter, compared to analyst estimates of $466.50 million. During the same quarter last year, the firm posted $1.75 EPS. The company's revenue was down 11.9% on a year-over-year basis. Research analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.
Innospec Increases Dividend
The firm also recently declared a semi-annual dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This is a positive change from Innospec's previous semi-annual dividend of $0.79. This represents a dividend yield of 1.7%. Innospec's payout ratio is 155.56%.
About Innospec
(
Free Report)
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.
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