Quantitative Systematic Strategies LLC increased its stake in Innospec Inc. (NASDAQ:IOSP) by 5.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,472 shares of the specialty chemicals company’s stock after purchasing an additional 186 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Innospec were worth $220,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Innospec by 11.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,869,548 shares of the specialty chemicals company’s stock valued at $118,380,000 after acquiring an additional 195,401 shares during the period. State of Wisconsin Investment Board bought a new stake in Innospec in the 2nd quarter valued at $6,983,000. Huber Capital Management LLC raised its stake in Innospec by 241.8% in the 2nd quarter. Huber Capital Management LLC now owns 82,016 shares of the specialty chemicals company’s stock valued at $6,336,000 after acquiring an additional 58,024 shares during the period. UBS Group AG increased its position in Innospec by 163.1% during the 2nd quarter. UBS Group AG now owns 53,972 shares of the specialty chemicals company’s stock worth $4,170,000 after buying an additional 33,461 shares during the period. Finally, Marshall Wace LLP increased its position in Innospec by 42.4% during the 2nd quarter. Marshall Wace LLP now owns 92,313 shares of the specialty chemicals company’s stock worth $7,131,000 after buying an additional 27,484 shares during the period. 94.42% of the stock is owned by institutional investors.
Several research firms have weighed in on IOSP. BidaskClub cut Innospec from a “hold” rating to a “sell” rating in a research report on Tuesday, November 17th. Zacks Investment Research lowered Innospec from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 11th. Finally, TheStreet lowered Innospec from a “b-” rating to a “c+” rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $95.00.
NASDAQ:IOSP opened at $80.76 on Friday. The stock’s 50-day simple moving average is $69.92 and its 200 day simple moving average is $73.33. The firm has a market capitalization of $1.99 billion, a PE ratio of 54.20 and a beta of 1.23. Innospec Inc. has a twelve month low of $56.71 and a twelve month high of $107.85.
Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, November 3rd. The specialty chemicals company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.33. The business had revenue of $265.10 million for the quarter, compared to analyst estimates of $277.60 million. Innospec had a return on equity of 9.14% and a net margin of 2.92%. Innospec’s revenue was down 28.7% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. As a group, sell-side analysts anticipate that Innospec Inc. will post 2.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Tuesday, November 17th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.58%. The ex-dividend date is Monday, November 16th. Innospec’s dividend payout ratio (DPR) is presently 19.92%.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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