Quantinno Capital Management LP Boosts Stake in Innospec Inc. (NASDAQ:IOSP)
Quantinno Capital Management LP grew its holdings in Innospec Inc. (NASDAQ:IOSP) by 100.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 9,280 shares of the specialty chemicals company’s stock after purchasing an additional 4,640 shares during the quarter. Innospec comprises 0.5% of Quantinno Capital Management LP’s portfolio, making the stock its 29th biggest holding. Quantinno Capital Management LP’s holdings in Innospec were worth $773,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Avestar Capital LLC acquired a new position in shares of Innospec in the first quarter valued at $66,000. LS Investment Advisors LLC raised its stake in shares of Innospec by 173.5% in the fourth quarter. LS Investment Advisors LLC now owns 1,972 shares of the specialty chemicals company’s stock valued at $122,000 after purchasing an additional 1,251 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Innospec by 27.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,986 shares of the specialty chemicals company’s stock valued at $123,000 after purchasing an additional 428 shares in the last quarter. US Bancorp DE raised its stake in shares of Innospec by 54.6% in the first quarter. US Bancorp DE now owns 1,764 shares of the specialty chemicals company’s stock valued at $147,000 after purchasing an additional 623 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Innospec by 74.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,357 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 1,007 shares in the last quarter. 93.34% of the stock is owned by institutional investors.
Innospec stock traded up $0.04 during mid-day trading on Friday, hitting $85.65. 107,094 shares of the company were exchanged, compared to its average volume of 87,492. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.28 and a quick ratio of 1.45. Innospec Inc. has a 1-year low of $53.07 and a 1-year high of $88.84. The firm has a market capitalization of $2.10 billion, a P/E ratio of 17.73 and a beta of 1.28.
The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a yield of 1.18%. Innospec’s dividend payout ratio is currently 20.70%.
In other Innospec news, VP Catherine Hessner sold 2,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $83.64, for a total transaction of $167,280.00. Following the completion of the transaction, the vice president now directly owns 20,923 shares in the company, valued at $1,749,999.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,300 shares of company stock valued at $356,236 over the last quarter. Corporate insiders own 1.62% of the company’s stock.
A number of research analysts recently commented on the company. BidaskClub upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 9th. ValuEngine upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research lowered Innospec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 30th.
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Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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