Edgestream Partners L.P. Sells 22,971 Shares of Innospec Inc. $IOSP

Edgestream Partners L.P. decreased its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 32.8% during the second quarter, HoldingsChannel.com reports. The fund owned 47,068 shares of the specialty chemicals company’s stock after selling 22,971 shares during the period. Edgestream Partners L.P.’s holdings in Innospec were worth $3,958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Innospec during the second quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake in shares of Innospec by 38.3% in the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock worth $57,000 after buying an additional 186 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Innospec during the 1st quarter worth $121,000. Baird Financial Group Inc. grew its stake in Innospec by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock valued at $206,000 after buying an additional 223 shares during the last quarter. Finally, Banque Transatlantique SA bought a new position in Innospec in the 1st quarter worth $196,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Innospec in a research report on Friday, November 28th. Wall Street Zen cut Innospec from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Finally, Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. One 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, Innospec currently has an average rating of “Hold”.

Insider Buying and Selling at Innospec

In other news, Director Leslie J. Parrette acquired 340 shares of the stock in a transaction dated Friday, November 14th. The shares were acquired at an average cost of $74.09 per share, for a total transaction of $25,190.60. Following the completion of the transaction, the director owned 5,837 shares in the company, valued at approximately $432,463.33. This trade represents a 6.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.31% of the company’s stock.

Innospec Stock Performance

NASDAQ:IOSP opened at $74.85 on Thursday. The firm’s 50-day moving average is $74.86 and its 200-day moving average is $81.15. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -2,495.00 and a beta of 0.93. Innospec Inc. has a 52-week low of $70.10 and a 52-week high of $120.00.

Innospec (NASDAQ:IOSP) last released its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.09. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%. The business had revenue of $441.90 million during the quarter, compared to analysts’ expectations of $443.00 million. During the same quarter last year, the company earned $1.35 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Equities analysts predict that Innospec Inc. will post 6.18 EPS for the current year.

Innospec Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.87 per share. This represents a dividend yield of 245.0%. The ex-dividend date of this dividend was Tuesday, November 18th. Innospec’s dividend payout ratio (DPR) is presently -5,800.00%.

Innospec Company 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.