Assenagon Asset Management S.A. Increases Stock Holdings in Innospec Inc. $IOSP

Assenagon Asset Management S.A. lifted its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 175.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 490,884 shares of the specialty chemicals company’s stock after buying an additional 312,680 shares during the period. Assenagon Asset Management S.A.’s holdings in Innospec were worth $35,844,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IOSP. Diversified Trust Co boosted its holdings in Innospec by 40.7% during the first quarter. Diversified Trust Co now owns 5,378 shares of the specialty chemicals company’s stock worth $393,000 after purchasing an additional 1,555 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Innospec by 125.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company’s stock worth $56,000 after buying an additional 405 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Innospec by 316.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 503 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Innospec by 29.4% in the 4th quarter. Invesco Ltd. now owns 104,639 shares of the specialty chemicals company’s stock worth $8,009,000 after buying an additional 23,794 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Innospec by 19.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,535 shares of the specialty chemicals company’s stock valued at $577,000 after acquiring an additional 1,226 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

Innospec Price Performance

Shares of IOSP opened at $82.63 on Friday. Innospec Inc. has a 1 year low of $65.51 and a 1 year high of $92.14. The stock’s fifty day moving average price is $80.15 and its two-hundred day moving average price is $78.48. The firm has a market cap of $2.04 billion, a PE ratio of 18.00, a PEG ratio of 2.30 and a beta of 0.92.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results 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 company had revenue of $453.20 million during the quarter, compared to the consensus estimate of $432.14 million. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Innospec Inc. will post 4.8 earnings per share for the current fiscal year.

Innospec Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on IOSP. Wall Street Zen lowered Innospec from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

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.