Innospec Inc. (NASDAQ:IOSP) Position Increased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 20.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,106,482 shares of the specialty chemicals company's stock after buying an additional 184,262 shares during the period. Victory Capital Management Inc. owned approximately 4.40% of Innospec worth $104,839,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of IOSP. Brown Advisory Inc. purchased a new stake in shares of Innospec in the first quarter worth about $31,212,000. Raymond James Financial Inc. purchased a new stake in shares of Innospec in the fourth quarter worth about $20,992,000. Norges Bank purchased a new stake in shares of Innospec in the fourth quarter worth about $11,312,000. Edgestream Partners L.P. boosted its position in shares of Innospec by 436.8% in the first quarter. Edgestream Partners L.P. now owns 70,039 shares of the specialty chemicals company's stock worth $6,636,000 after buying an additional 56,991 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Innospec by 17.3% in the fourth quarter. JPMorgan Chase & Co. now owns 312,880 shares of the specialty chemicals company's stock valued at $34,436,000 after purchasing an additional 46,192 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Insider Transactions at Innospec

In other Innospec news, Director Leslie J. Parrette sold 446 shares of the company's 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 in the company, valued at $498,193.11. This represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.31% of the stock is owned by insiders.

Analyst Ratings Changes

IOSP has been the subject of a number of analyst reports. Seaport Res Ptn raised Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Wall Street Zen downgraded Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th.

Innospec Price Performance

IOSP traded down $1.99 on Friday, reaching $83.02. The company's stock had a trading volume of 175,698 shares, compared to its average volume of 167,320. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 76.87 and a beta of 1.05. Innospec Inc. has a 1 year low of $80.32 and a 1 year high of $133.53. The business's 50 day moving average is $86.49 and its 200 day moving average is $95.79.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $466.50 million. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Innospec's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, research analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Increases Dividend

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

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.