Moran Wealth Management LLC Sells 15,004 Shares of Innospec Inc. $IOSP

Moran Wealth Management LLC lowered its position in Innospec Inc. (NASDAQ:IOSP) by 35.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,031 shares of the specialty chemicals company’s stock after selling 15,004 shares during the period. Moran Wealth Management LLC owned 0.11% of Innospec worth $1,974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Innospec by 31.0% in the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 139 shares during the last quarter. State of Wyoming increased its stake in shares of Innospec by 27.5% during the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock worth $67,000 after purchasing an additional 173 shares during the last quarter. California State Teachers Retirement System increased its stake 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 worth $1,939,000 after purchasing an additional 179 shares during the last quarter. Franklin Resources Inc. raised its holdings 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 raised its holdings in shares of Innospec by 5.0% during the 3rd quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock valued at $354,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Innospec Stock Performance

Shares of NASDAQ:IOSP opened at $83.10 on Monday. The company has a market cap of $2.05 billion, a P/E ratio of 18.10, a P/E/G ratio of 2.31 and a beta of 0.93. The stock’s 50-day moving average is $80.80 and its 200-day moving average is $78.65. Innospec Inc. has a 52-week low of $65.51 and a 52-week 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, topping the consensus estimate of $1.02 by $0.03. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The business had revenue of $453.20 million during the quarter, compared to analysts’ expectations of $432.14 million. During the same quarter in the previous year, the firm earned $1.42 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Innospec Inc. will post 4.8 EPS for the current year.

Innospec Dividend Announcement

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

Analysts Set New Price Targets

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

Innospec Company 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.