Royce & Associates LP Sells 187,388 Shares of Innospec Inc. $IOSP

Key Points

• Royce & Associates LP cut its Innospec stake by 38% in the fourth quarter, selling 187,388 shares and leaving it with 305,226 shares worth about $23.4 million.
• Innospec reported solid quarterly results, posting EPS of $1.05 versus $1.02 expected and revenue of $453.2 million, both ahead of analyst estimates.
• The company announced a dividend of $0.92 per share payable on May 29, while analysts’ sentiment remains cautious with an average “Reduce” rating.

Royce & Associates LP reduced its holdings in Innospec Inc. (NASDAQ:IOSP - Free Report) by 38.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 305,226 shares of the specialty chemicals company's stock after selling 187,388 shares during the period. Royce & Associates LP owned approximately 1.23% of Innospec worth $23,362,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Innospec by 291.0% in the 4th quarter. SG Americas Securities LLC now owns 75,814 shares of the specialty chemicals company's stock worth $5,803,000 after buying an additional 56,425 shares during the period. Semanteon Capital Management LP bought a new position in Innospec in the 3rd quarter worth approximately $565,000. AlphaQuest LLC increased its position in Innospec by 56.8% in the 3rd quarter. AlphaQuest LLC now owns 45,174 shares of the specialty chemicals company's stock worth $3,486,000 after buying an additional 16,360 shares during the period. Public Sector Pension Investment Board increased its position in Innospec by 14.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 96,866 shares of the specialty chemicals company's stock worth $7,474,000 after buying an additional 11,907 shares during the period. Finally, Numerai GP LLC increased its position in Innospec by 29.7% in the 3rd quarter. Numerai GP LLC now owns 81,541 shares of the specialty chemicals company's stock worth $6,292,000 after buying an additional 18,649 shares during the period. 96.64% of the stock is owned by institutional investors.

Innospec Trading Up 3.0%

IOSP opened at $81.96 on Wednesday. The stock has a market cap of $2.02 billion, a PE ratio of 17.86, a P/E/G ratio of 2.21 and a beta of 0.90. Innospec Inc. has a 1 year low of $65.51 and a 1 year high of $92.14. The stock's 50 day simple moving average is $75.16 and its 200-day simple moving average is $77.06.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.03. The business had revenue of $453.20 million for 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%.Innospec's quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 earnings per share. Equities analysts forecast that Innospec Inc. will post 4.8 earnings per share for the current fiscal year.

Innospec Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.92 per share. The ex-dividend date is Tuesday, May 19th. This represents a dividend yield of 239.0%. Innospec's payout ratio is currently 40.09%.

Analyst Ratings Changes

Several research analysts have commented on IOSP shares. Zacks Research raised Innospec from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Weiss Ratings downgraded Innospec from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce".

Insider Transactions at Innospec

In related news, SVP David B. Jones sold 1,028 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $75.64, for a total value of $77,757.92. Following the sale, the senior vice president owned 14,693 shares of the company's stock, valued at $1,111,378.52. The trade was a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Landless sold 594 shares of the business's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $76.56, for a total value of $45,476.64. Following the completion of the sale, the director directly owned 7,632 shares in the company, valued at approximately $584,305.92. This represents a 7.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,929 shares of company stock valued at $223,298. Company insiders own 1.45% of the company's stock.

Innospec 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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