Innospec Inc. $IOSP Shares Acquired by First Wilshire Securities Management Inc.

Key Points

• First Wilshire Securities Management boosted its Innospec stake by 47.2% in the first quarter, buying 47,498 additional shares and bringing its total to 148,072 shares. The position was worth about $10.8 million and represented 2.4% of the firm’s portfolio.
• Innospec’s latest earnings beat expectations, reporting $1.05 per share versus the $1.02 estimate, while revenue of $453.2 million also topped forecasts. Revenue rose 2.8% year over year, though EPS was below the prior year’s $1.42.
• Analysts remain cautious overall, with the stock carrying a consensus “Hold” rating despite recent upgrades from Weiss Ratings, Zacks Research, and Wall Street Zen. Innospec also paid a $0.92 dividend, with a payout ratio of 40.09%.

First Wilshire Securities Management Inc. increased its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 47.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,072 shares of the specialty chemicals company's stock after acquiring an additional 47,498 shares during the period. Innospec comprises 2.4% of First Wilshire Securities Management Inc.'s holdings, making the stock its 13th largest position. First Wilshire Securities Management Inc. owned approximately 0.59% of Innospec worth $10,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Innospec by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,242,089 shares of the specialty chemicals company's stock valued at $90,698,000 after acquiring an additional 66,967 shares during the period. Victory Capital Management Inc. grew its stake in shares of Innospec by 13.7% during the 4th quarter. Victory Capital Management Inc. now owns 950,074 shares of the specialty chemicals company's stock worth $72,719,000 after purchasing an additional 114,179 shares during the period. State Street Corp grew its stake in shares of Innospec by 2.1% during the 4th quarter. State Street Corp now owns 949,038 shares of the specialty chemicals company's stock worth $72,639,000 after purchasing an additional 19,915 shares during the period. Millennium Management LLC increased its holdings in shares of Innospec by 10.8% during the 4th quarter. Millennium Management LLC now owns 533,312 shares of the specialty chemicals company's stock valued at $40,820,000 after purchasing an additional 51,824 shares in the last quarter. Finally, Nuveen LLC increased its holdings in shares of Innospec by 22.2% during the 4th quarter. Nuveen LLC now owns 502,603 shares of the specialty chemicals company's stock valued at $38,469,000 after purchasing an additional 91,326 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Trading Up 0.7%

Shares of IOSP stock opened at $84.50 on Wednesday. Innospec Inc. has a 12-month low of $65.51 and a 12-month high of $92.14. The business's 50 day moving average is $81.96 and its two-hundred day moving average is $79.03. The company has a market capitalization of $2.08 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.32 and a beta of 0.93.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.03. The business had revenue of $453.20 million during the quarter, compared to analysts' expectations of $432.14 million. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The business's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. On average, research analysts predict that Innospec Inc. will post 4.84 earnings per share for the current fiscal year.

Innospec Announces Dividend

The business also recently declared a dividend, which was paid on Friday, May 29th. Investors 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 payout ratio is presently 40.09%.

Analyst Ratings Changes

Several equities analysts recently issued reports on IOSP shares. Weiss Ratings upgraded shares of Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 1st. Zacks Research raised shares of Innospec from a "strong sell" rating to a "hold" rating in a report on Friday, April 24th. Finally, Wall Street Zen raised shares of Innospec from a "hold" rating to a "buy" rating in a report on Saturday. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Innospec Company Profile

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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