James Investment Research Inc. Sells 6,934 Shares of Innospec Inc. $IOSP

James Investment Research Inc. decreased its holdings in Innospec Inc. (NASDAQ:IOSP) by 69.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,015 shares of the specialty chemicals company’s stock after selling 6,934 shares during the quarter. James Investment Research Inc.’s holdings in Innospec were worth $220,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its stake in shares of Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 223 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Innospec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock worth $1,405,000 after buying an additional 645 shares in the last quarter. Millennium Management LLC grew its holdings in Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after buying an additional 168,355 shares in the last quarter. NewEdge Advisors LLC raised its position in Innospec by 37.4% in the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $433,000 after buying an additional 1,243 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Innospec by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after buying an additional 8,014 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IOSP shares. Wall Street Zen downgraded shares of Innospec from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Finally, Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Innospec Price Performance

Shares of NASDAQ:IOSP opened at $83.10 on Friday. Innospec Inc. has a 1 year low of $65.51 and a 1 year high of $92.14. The company has a market capitalization of $2.05 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.27 and a beta of 0.93. The business has a fifty day moving average price of $80.64 and a two-hundred day moving average price of $78.61.

Innospec (NASDAQ:IOSP) last released its earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. The company had revenue of $453.20 million for the quarter, compared to analysts’ expectations of $432.14 million. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 EPS. Sell-side analysts anticipate that Innospec Inc. will post 4.8 earnings per share for the current year.

Innospec Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a yield of 239.0%. Innospec’s payout ratio is currently 40.09%.

Innospec Profile

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.