ProShare Advisors LLC boosted its holdings in Innospec Inc. (NASDAQ:IOSP – Free Report) by 8.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,739 shares of the specialty chemicals company’s stock after purchasing an additional 6,478 shares during the quarter. ProShare Advisors LLC’s holdings in Innospec were worth $6,409,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in IOSP. Allworth Financial LP raised its holdings in shares of 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 in the last quarter. State of Wyoming raised its holdings 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 acquiring an additional 173 shares in the last quarter. California State Teachers Retirement System raised its holdings 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 acquiring an additional 179 shares in 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 worth $2,150,000 after acquiring 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 worth $354,000 after acquiring an additional 214 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.
Insider Transactions at Innospec
In other news, Director Milton C. Blackmore sold 594 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $76.56, for a total transaction of $45,476.64. Following the transaction, the director owned 10,530 shares of the company’s stock, valued at approximately $806,176.80. This represents a 5.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David B. Jones sold 1,028 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $75.64, for a total value of $77,757.92. Following the transaction, the senior vice president directly owned 14,693 shares in the company, valued at $1,111,378.52. The trade was a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,929 shares of company stock worth $223,298 over the last quarter. 1.45% of the stock is owned by corporate insiders.
Innospec Stock Up 1.1%
Innospec (NASDAQ:IOSP – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for 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 business’s revenue was up 2.8% compared to the same quarter last year. Research analysts expect that Innospec Inc. will post 4.8 EPS for the current year.
Innospec Announces Dividend
The company also recently declared a dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a dividend yield of 239.0%. Innospec’s dividend payout ratio is presently 40.09%.
Analyst Ratings Changes
IOSP has been the topic of several recent research reports. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Wall Street Zen lowered Innospec from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings lowered Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.
Read Our Latest Research Report on Innospec
Innospec 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.
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