Innospec Inc. $IOSP Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 35.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 33,296 shares of the specialty chemicals company’s stock after purchasing an additional 8,682 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Innospec were worth $2,431,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of IOSP. Deprince Race & Zollo Inc. acquired a new position in shares of Innospec during the first quarter worth about $4,967,000. MQS Management LLC acquired a new position in Innospec during the 1st quarter worth approximately $267,000. Inspire Investing LLC increased its position in shares of Innospec by 15.6% in the 1st quarter. Inspire Investing LLC now owns 7,033 shares of the specialty chemicals company’s stock valued at $514,000 after purchasing an additional 947 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Innospec by 16.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,708 shares of the specialty chemicals company’s stock valued at $344,000 after purchasing an additional 656 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Innospec during the 1st quarter worth $803,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on IOSP shares. Wall Street Zen downgraded Innospec from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Innospec Stock Down 0.9%

NASDAQ IOSP opened at $81.66 on Wednesday. The stock has a market capitalization of $2.01 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.29 and a beta of 0.93. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $92.14. The firm has a 50-day moving average price of $81.01 and a 200 day moving average price of $78.70.

Innospec (NASDAQ:IOSP) last issued its 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 during the quarter, compared to the consensus estimate of $432.14 million. During the same period in the prior year, the business posted $1.42 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Innospec Inc. will post 4.8 earnings per share for the current fiscal year.

Innospec Announces Dividend

The business 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 dividend yield of 239.0%. The ex-dividend date was Tuesday, May 19th. Innospec’s payout ratio is presently 40.09%.

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.