First Trust Advisors LP raised its position in shares of Innospec Inc. (NASDAQ:IOSP) by 40.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,928 shares of the specialty chemicals company’s stock after buying an additional 7,424 shares during the quarter. First Trust Advisors LP owned about 0.11% of Innospec worth $1,990,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in IOSP. FMR LLC raised its stake in Innospec by 12.6% during the second quarter. FMR LLC now owns 3,570,805 shares of the specialty chemicals company’s stock valued at $273,345,000 after buying an additional 399,488 shares in the last quarter. BlackRock Inc. raised its stake in Innospec by 2.5% during the second quarter. BlackRock Inc. now owns 3,820,121 shares of the specialty chemicals company’s stock valued at $292,430,000 after buying an additional 94,111 shares in the last quarter. Northern Trust Corp raised its stake in Innospec by 6.1% during the second quarter. Northern Trust Corp now owns 527,967 shares of the specialty chemicals company’s stock valued at $40,416,000 after buying an additional 30,226 shares in the last quarter. Wasatch Advisors Inc. raised its stake in Innospec by 10.6% during the second quarter. Wasatch Advisors Inc. now owns 228,664 shares of the specialty chemicals company’s stock valued at $17,504,000 after buying an additional 21,913 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Innospec by 2,016.9% during the third quarter. Bank of Montreal Can now owns 21,677 shares of the specialty chemicals company’s stock valued at $1,663,000 after buying an additional 20,653 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Shares of Innospec stock opened at $73.74 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 2.27. The company has a market cap of $1.80 billion, a PE ratio of 15.82 and a beta of 1.10. Innospec Inc. has a twelve month low of $62.13 and a twelve month high of $83.20.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, November 6th. The specialty chemicals company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The business had revenue of $363.10 million for the quarter, compared to analysts’ expectations of $362.50 million. Innospec had a return on equity of 14.02% and a net margin of 4.17%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. As a group, research analysts expect that Innospec Inc. will post 4.55 EPS for the current year.
The business also recently declared a semiannual dividend, which was paid on Thursday, November 29th. Stockholders of record on Monday, November 19th were given a dividend of $0.45 per share. This represents a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, November 16th. Innospec’s payout ratio is 19.31%.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Innospec from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. ValuEngine upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. KeyCorp cut their price objective on Innospec from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Finally, BidaskClub upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $84.50.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.
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