ProShare Advisors LLC Purchases 6,478 Shares of Innospec Inc. $IOSP

ProShare Advisors LLC raised its position in shares of Innospec Inc. (NASDAQ:IOSP) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 owned 0.34% of Innospec worth $6,409,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Allworth Financial LP grew its stake in shares of Innospec by 49.7% during the 4th quarter. Allworth Financial LP now owns 880 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 292 shares during the period. Ethic Inc. bought a new position in shares of Innospec during the 4th quarter valued at approximately $410,000. Western Standard LLC grew its stake in shares of Innospec by 894.0% during the 4th quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company’s stock valued at $20,541,000 after acquiring an additional 241,367 shares during the period. CM Management LLC grew its stake in shares of Innospec by 66.7% during the 4th quarter. CM Management LLC now owns 20,000 shares of the specialty chemicals company’s stock valued at $1,531,000 after acquiring an additional 8,000 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Innospec by 19.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 30,314 shares of the specialty chemicals company’s stock valued at $2,320,000 after acquiring an additional 4,989 shares during the period. 96.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Innospec news, SVP David B. Jones sold 1,028 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 14,693 shares in the company, valued at $1,111,378.52. This represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Landless sold 594 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the completion of the transaction, the director owned 7,632 shares of the company’s stock, valued at $584,305.92. The trade was a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,929 shares of company stock valued at $223,298. 1.45% of the stock is owned by company insiders.

Innospec Trading Up 1.1%

Shares of NASDAQ:IOSP opened at $79.58 on Friday. The stock has a 50 day moving average of $74.68 and a 200 day moving average of $76.93. The company has a market cap of $1.96 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.19 and a beta of 0.90. Innospec Inc. has a 12-month low of $65.51 and a 12-month high of $92.14.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $453.20 million during the quarter, compared to the consensus estimate of $432.14 million. During the same period in the previous year, the company posted $1.42 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Equities research analysts predict that Innospec Inc. will post 4.8 earnings per share for the current fiscal year.

Innospec Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on IOSP shares. Weiss Ratings downgraded Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Wall Street Zen downgraded Innospec from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average 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.