Texas Permanent School Fund decreased its position in Innospec Inc. (NASDAQ:IOSP) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,263 shares of the company’s stock after selling 66 shares during the period. Texas Permanent School Fund owned 0.08% of Innospec worth $1,111,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its position in Innospec by 1.3% in the third quarter. Great West Life Assurance Co. Can now owns 32,215 shares of the company’s stock worth $1,957,000 after buying an additional 423 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Innospec during the third quarter worth approximately $390,000. Alpha Windward LLC acquired a new position in Innospec during the third quarter worth approximately $441,000. First Quadrant L P CA raised its position in Innospec by 54.1% in the third quarter. First Quadrant L P CA now owns 31,432 shares of the company’s stock worth $1,911,000 after buying an additional 11,032 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in Innospec by 50.0% in the third quarter. Eagle Asset Management Inc. now owns 322,373 shares of the company’s stock worth $19,603,000 after buying an additional 107,394 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Innospec Inc. (NASDAQ:IOSP) traded down 0.37% during midday trading on Friday, reaching $66.60. 35,124 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $61.16 and a 200 day moving average price of $55.12. The company has a market cap of $1.60 billion, a P/E ratio of 17.95 and a beta of 1.32. Innospec Inc. has a 12 month low of $41.61 and a 12 month high of $67.25.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. The firm had revenue of $205.50 million for the quarter, compared to the consensus estimate of $232.15 million. Innospec had a net margin of 10.17% and a return on equity of 15.53%. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 EPS. Equities research analysts forecast that Innospec Inc. will post $3.72 earnings per share for the current fiscal year.
The company also recently disclosed a semiannual dividend, which was paid on Thursday, November 24th. Shareholders of record on Tuesday, November 15th were issued a dividend of $0.34 per share. This represents a yield of 1.23%. This is an increase from Innospec’s previous semiannual dividend of $0.33. The ex-dividend date of this dividend was Thursday, November 10th. Innospec’s payout ratio is currently 18.38%.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Innospec from a “sell” rating to a “hold” rating in a research report on Monday, November 21st. Monness Crespi & Hardt raised their price target on shares of Innospec from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. Finally, CJS Securities raised shares of Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Friday, August 5th.
In other Innospec news, VP Ian Malcolm Mcrobbie sold 20,614 shares of Innospec stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $66.27, for a total transaction of $1,366,089.78. Following the transaction, the vice president now directly owns 42,543 shares of the company’s stock, valued at approximately $2,819,324.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian Watt sold 3,000 shares of Innospec stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $61.30, for a total transaction of $183,900.00. Following the transaction, the vice president now directly owns 32,089 shares in the company, valued at $1,967,055.70. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.