Innospec Inc. (NASDAQ:IOSP) Director Leslie J. Parrette Buys 189 Shares

Innospec Inc. (NASDAQ:IOSP - Get Free Report) Director Leslie J. Parrette bought 189 shares of the firm's stock in a transaction dated Thursday, May 16th. The shares were acquired at an average price of $131.57 per share, with a total value of $24,866.73. Following the completion of the transaction, the director now owns 4,591 shares of the company's stock, valued at approximately $604,037.87. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Innospec Trading Down 0.3 %

Shares of Innospec stock traded down $0.43 during trading on Monday, hitting $129.07. 86,526 shares of the stock traded hands, compared to its average volume of 90,938. The firm has a market cap of $3.22 billion, a P/E ratio of 21.92 and a beta of 1.11. Innospec Inc. has a 52-week low of $91.74 and a 52-week high of $133.71. The stock's fifty day simple moving average is $124.74 and its 200 day simple moving average is $119.03.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The specialty chemicals company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. The firm had revenue of $500.20 million for the quarter, compared to analyst estimates of $508.15 million. Innospec had a return on equity of 14.22% and a net margin of 7.60%. As a group, equities analysts expect that Innospec Inc. will post 6.7 EPS for the current year.

Innospec Announces Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a dividend yield of 1.2%. Innospec's dividend payout ratio is currently 25.81%.

Hedge Funds Weigh In On Innospec

Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Innospec by 19.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,209 shares of the specialty chemicals company's stock valued at $430,000 after purchasing an additional 683 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Innospec by 20.8% in the third quarter. Teacher Retirement System of Texas now owns 16,305 shares of the specialty chemicals company's stock valued at $1,666,000 after purchasing an additional 2,813 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in Innospec by 112.1% in the third quarter. Bahl & Gaynor Inc. now owns 34,824 shares of the specialty chemicals company's stock valued at $3,559,000 after purchasing an additional 18,407 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Innospec in the third quarter valued at about $1,207,000. Finally, Illinois Municipal Retirement Fund purchased a new position in Innospec in the third quarter valued at about $1,490,000. Hedge funds and other institutional investors own 96.64% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Innospec from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 10th.

About Innospec

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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