Ameriprise Financial Inc. Sells 5,700 Shares of Innospec Inc. (IOSP)
Ameriprise Financial Inc. reduced its stake in Innospec Inc. (NASDAQ:IOSP) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 221,658 shares of the specialty chemicals company’s stock after selling 5,700 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.92% of Innospec worth $13,664,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in IOSP. Principal Financial Group Inc. raised its holdings in Innospec by 115.7% in the 2nd quarter. Principal Financial Group Inc. now owns 424,284 shares of the specialty chemicals company’s stock worth $27,812,000 after purchasing an additional 227,605 shares during the period. Westwood Holdings Group Inc. bought a new position in Innospec in the 2nd quarter worth $9,334,000. Lazard Asset Management LLC raised its holdings in Innospec by 25.3% in the 2nd quarter. Lazard Asset Management LLC now owns 663,360 shares of the specialty chemicals company’s stock worth $43,483,000 after purchasing an additional 134,020 shares during the period. Wasatch Advisors Inc. raised its holdings in Innospec by 116.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 191,699 shares of the specialty chemicals company’s stock worth $12,566,000 after purchasing an additional 103,152 shares during the period. Finally, American Century Companies Inc. raised its holdings in Innospec by 24.4% in the 3rd quarter. American Century Companies Inc. now owns 449,089 shares of the specialty chemicals company’s stock worth $27,686,000 after purchasing an additional 88,053 shares during the period. 91.20% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on IOSP shares. Zacks Investment Research upgraded Innospec from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Friday, November 10th. Johnson Rice upgraded Innospec from a “hold” rating to an “accumulate” rating in a research note on Tuesday, November 14th. BidaskClub lowered Innospec from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, KeyCorp reiterated an “overweight” rating on shares of Innospec in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Innospec currently has an average rating of “Hold” and a consensus target price of $70.50.
Shares of Innospec Inc. (IOSP) opened at $68.80 on Friday. Innospec Inc. has a 12 month low of $54.10 and a 12 month high of $74.75. The company has a quick ratio of 1.35, a current ratio of 2.24 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1,700.00, a price-to-earnings ratio of 15.82 and a beta of 1.20.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.15. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The business had revenue of $332.40 million during the quarter, compared to analyst estimates of $309.40 million. During the same quarter in the prior year, the business posted $0.78 EPS. Innospec’s revenue for the quarter was up 61.8% compared to the same quarter last year. equities analysts expect that Innospec Inc. will post 4.3 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which was paid on Monday, November 27th. Shareholders of record on Thursday, November 16th were paid a $0.39 dividend. This represents a yield of 1.12%. The ex-dividend date was Wednesday, November 15th. This is a positive change from Innospec’s previous semiannual dividend of $0.38. Innospec’s dividend payout ratio is presently 21.55%.
In other news, CFO Ian Cleminson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $71.67, for a total transaction of $358,350.00. Following the completion of the transaction, the chief financial officer now owns 22,997 shares in the company, valued at $1,648,194.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian Watt sold 440 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $70.17, for a total value of $30,874.80. Following the transaction, the vice president now owns 30,730 shares of the company’s stock, valued at approximately $2,156,324.10. The disclosure for this sale can be found here. Insiders sold a total of 24,366 shares of company stock valued at $1,743,891 in the last quarter. 2.02% of the stock is currently owned by company insiders.
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
Receive News & Ratings for Innospec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec and related companies with Analyst Ratings Network's FREE daily email newsletter.