Innospec Inc. $IOSP Stake Raised by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. grew its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 412,310 shares of the specialty chemicals company’s stock after purchasing an additional 29,900 shares during the period. Westwood Holdings Group Inc.’s holdings in Innospec were worth $34,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Innospec during the second quarter valued at approximately $345,000. American Century Companies Inc. grew its position in Innospec by 27.7% in the first quarter. American Century Companies Inc. now owns 47,545 shares of the specialty chemicals company’s stock worth $4,505,000 after buying an additional 10,309 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Innospec by 63.2% in the first quarter. Voya Investment Management LLC now owns 327,289 shares of the specialty chemicals company’s stock valued at $31,011,000 after buying an additional 126,750 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Innospec by 30.7% during the 1st quarter. Intech Investment Management LLC now owns 22,023 shares of the specialty chemicals company’s stock valued at $2,087,000 after acquiring an additional 5,178 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Innospec by 38.3% during the 2nd quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock worth $57,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Trading Down 0.9%

NASDAQ IOSP opened at $74.09 on Friday. Innospec Inc. has a 1-year low of $71.06 and a 1-year high of $122.41. The firm’s fifty day simple moving average is $77.06 and its 200-day simple moving average is $82.81. The company has a market capitalization of $1.84 billion, a PE ratio of 94.99 and a beta of 1.06.

Innospec (NASDAQ:IOSP) last issued its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The firm had revenue of $441.90 million for the quarter, compared to the consensus estimate of $443.00 million. During the same quarter in the previous year, the company posted $1.35 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts predict that Innospec Inc. will post 6.18 EPS for the current year.

Innospec Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th will be given a dividend of $0.87 per share. This represents a yield of 237.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Innospec’s dividend payout ratio (DPR) is presently -5,800.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Zacks Research cut Innospec from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Weiss Ratings downgraded Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Finally, Wall Street Zen lowered Innospec from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Innospec 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.