Deprince Race & Zollo Inc. Invests $4.97 Million in Innospec Inc. $IOSP

Deprince Race & Zollo Inc. acquired a new stake in Innospec Inc. (NASDAQ:IOSP) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 68,029 shares of the specialty chemicals company’s stock, valued at approximately $4,967,000. Deprince Race & Zollo Inc. owned 0.27% of Innospec at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IOSP. Allworth Financial LP increased its holdings in Innospec by 31.0% during the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 139 shares during the period. State of Wyoming boosted its holdings in Innospec by 27.5% in the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 173 shares during the period. California State Teachers Retirement System grew its position in shares of Innospec by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock valued at $1,939,000 after purchasing an additional 179 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Innospec by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company’s stock valued at $2,150,000 after purchasing an additional 196 shares in the last quarter. Finally, Amundi increased its holdings in shares of Innospec by 5.0% in the third quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock worth $354,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Price Performance

IOSP stock opened at $83.10 on Friday. The firm has a 50 day simple moving average of $80.64 and a two-hundred day simple moving average of $78.61. The stock has a market cap of $2.05 billion, a PE ratio of 18.10, a P/E/G ratio of 2.27 and a beta of 0.93. Innospec Inc. has a one year low of $65.51 and a one year high of $92.14.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.03. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The firm had revenue of $453.20 million for the quarter, compared to analysts’ expectations of $432.14 million. During the same quarter last year, the company posted $1.42 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts expect that Innospec Inc. will post 4.8 EPS for the current fiscal year.

Innospec Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on IOSP. Wall Street Zen lowered Innospec from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Innospec currently has an average rating of “Hold”.

About Innospec

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.