Teacher Retirement System of Texas Has $588,000 Holdings in Innospec Inc. (NASDAQ:IOSP)

Teacher Retirement System of Texas lowered its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 89.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,201 shares of the specialty chemicals company's stock after selling 50,780 shares during the period. Teacher Retirement System of Texas' holdings in Innospec were worth $588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Innospec by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,404,825 shares of the specialty chemicals company's stock valued at $227,352,000 after acquiring an additional 19,018 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Innospec by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company's stock worth $76,184,000 after purchasing an additional 14,788 shares during the last quarter. Janus Henderson Group PLC boosted its position in Innospec by 1.0% during the 4th quarter. Janus Henderson Group PLC now owns 467,938 shares of the specialty chemicals company's stock valued at $51,502,000 after acquiring an additional 4,527 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Innospec by 5.1% during the fourth quarter. Northern Trust Corp now owns 327,476 shares of the specialty chemicals company's stock valued at $36,042,000 after purchasing an additional 15,912 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Innospec by 17.3% in the 4th quarter. JPMorgan Chase & Co. now owns 312,880 shares of the specialty chemicals company's stock worth $34,436,000 after acquiring an additional 46,192 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Insider Buying and Selling

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

Innospec Stock Performance

Shares of NASDAQ IOSP traded down $1.99 during midday trading on Friday, reaching $83.02. 175,698 shares of the stock were exchanged, compared to its average volume of 167,642. The stock has a market capitalization of $2.07 billion, a P/E ratio of 76.87 and a beta of 1.05. The company has a 50 day simple moving average of $86.35 and a 200 day simple moving average of $95.60. Innospec Inc. has a twelve month low of $80.32 and a twelve month high of $133.53.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 EPS for the quarter, topping 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 firm had revenue of $440.80 million for the quarter, compared to analyst estimates of $466.50 million. During the same period last year, the business earned $1.75 EPS. Innospec's revenue for the quarter was down 11.9% compared to the same quarter last year. On average, research analysts expect that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec Increases Dividend

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

Wall Street Analysts Forecast Growth

IOSP has been the topic of several research analyst reports. Seaport Res Ptn upgraded shares of Innospec from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Wall Street Zen lowered shares of Innospec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th.

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.