Victory Capital Management Inc. boosted its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 20.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,106,482 shares of the specialty chemicals company's stock after purchasing an additional 184,262 shares during the quarter. Victory Capital Management Inc. owned about 4.40% of Innospec worth $104,839,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in IOSP. Proficio Capital Partners LLC bought a new stake in shares of Innospec in the 4th quarter valued at about $1,623,000. PNC Financial Services Group Inc. boosted its position in shares of Innospec by 8.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company's stock valued at $206,000 after purchasing an additional 151 shares in the last quarter. Amundi boosted its position in shares of Innospec by 194.1% during the 4th quarter. Amundi now owns 13,018 shares of the specialty chemicals company's stock valued at $1,388,000 after purchasing an additional 8,592 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Innospec by 12.6% during the 4th quarter. HighTower Advisors LLC now owns 3,494 shares of the specialty chemicals company's stock valued at $385,000 after purchasing an additional 391 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Innospec by 0.8% during the 4th quarter. Swiss National Bank now owns 49,103 shares of the specialty chemicals company's stock valued at $5,404,000 after purchasing an additional 400 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Innospec
In other Innospec news, Director Leslie J. Parrette sold 446 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total transaction of $40,420.98. Following the sale, the director directly owned 5,497 shares in the company, valued at $498,193.11. This represents a 7.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.31% of the stock is currently owned by company insiders.
Innospec Trading Down 2.3%
Shares of Innospec stock traded down $1.99 on Friday, hitting $83.02. 175,698 shares of the company traded hands, compared to its average volume of 167,982. The company has a market cap of $2.07 billion, a PE ratio of 76.87 and a beta of 1.05. The stock's 50 day moving average price is $86.35 and its 200-day moving average price is $95.42. Innospec Inc. has a 52 week low of $80.32 and a 52 week high of $133.53.
Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $440.80 million during the quarter, compared to the consensus estimate of $466.50 million. Innospec had a net margin of 1.51% and a return on equity of 11.38%. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 earnings per share. As a group, research analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.
Innospec Increases Dividend
The company also recently declared a semi-annual dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th were paid a $0.84 dividend. This is a boost from Innospec's previous semi-annual dividend of $0.79. The ex-dividend date was Tuesday, May 20th. This represents a dividend yield of 1.7%. Innospec's dividend payout ratio is 155.56%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on IOSP shares. 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 research report on Monday, April 21st.
Read Our Latest Report on IOSP
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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