Intech Investment Management LLC Reduces Position in Innospec Inc. $IOSP

Intech Investment Management LLC reduced its position in Innospec Inc. (NASDAQ:IOSP) by 4.8% during the second quarter, HoldingsChannel.com reports. The firm owned 20,969 shares of the specialty chemicals company’s stock after selling 1,054 shares during the period. Intech Investment Management LLC’s holdings in Innospec were worth $1,763,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Innospec during the first quarter valued at approximately $42,966,000. Millennium Management LLC lifted its stake in shares of Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after acquiring an additional 168,355 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Innospec by 63.2% during the 1st quarter. Voya Investment Management LLC now owns 327,289 shares of the specialty chemicals company’s stock valued at $31,011,000 after acquiring an additional 126,750 shares during the period. Jane Street Group LLC grew its position in Innospec by 1,551.5% in the 1st quarter. Jane Street Group LLC now owns 95,243 shares of the specialty chemicals company’s stock valued at $9,024,000 after acquiring an additional 89,476 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Innospec by 198.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 130,427 shares of the specialty chemicals company’s stock valued at $12,358,000 after acquiring an additional 86,780 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Innospec Stock Up 2.1%

Shares of IOSP stock opened at $72.13 on Friday. The company’s 50 day moving average is $75.83 and its 200 day moving average is $82.13. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 92.47 and a beta of 1.06. Innospec Inc. has a 52-week low of $70.10 and a 52-week high of $122.19.

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

Innospec Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th will be given a $0.87 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a dividend yield of 245.0%. Innospec’s payout ratio is presently -5,800.00%.

Insider Activity at Innospec

In other news, Director Leslie J. Parrette acquired 340 shares of Innospec stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average price of $74.09 per share, for a total transaction of $25,190.60. Following the purchase, the director directly owned 5,837 shares in the company, valued at $432,463.33. The trade was a 6.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.31% of the stock is currently owned by company insiders.

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.