Quantitative Systematic Strategies LLC boosted its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,472 shares of the specialty chemicals company’s stock after buying an additional 186 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Innospec were worth $220,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of IOSP. Wells Fargo & Company MN boosted its stake in Innospec by 11.7% during the third quarter. Wells Fargo & Company MN now owns 1,869,548 shares of the specialty chemicals company’s stock worth $118,380,000 after buying an additional 195,401 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of Innospec in the 2nd quarter valued at $6,983,000. Huber Capital Management LLC boosted its stake in shares of 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 purchasing an additional 58,024 shares in the last quarter. UBS Group AG boosted its stake in shares of Innospec by 163.1% in the 2nd quarter. UBS Group AG now owns 53,972 shares of the specialty chemicals company’s stock valued at $4,170,000 after purchasing an additional 33,461 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Innospec by 42.4% in the 2nd quarter. Marshall Wace LLP now owns 92,313 shares of the specialty chemicals company’s stock valued at $7,131,000 after purchasing an additional 27,484 shares in the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.
IOSP has been the topic of several recent analyst reports. TheStreet downgraded shares of Innospec from a “b-” rating to a “c+” rating in a research note on Wednesday, August 5th. Zacks Investment Research downgraded shares of Innospec from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 11th. Finally, BidaskClub downgraded shares of Innospec from a “hold” rating to a “sell” rating in a research note on Tuesday, November 17th. Two 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 company. Innospec has a consensus rating of “Hold” and an average target price of $95.00.
Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.33. Innospec had a return on equity of 9.14% and a net margin of 2.92%. The business had revenue of $265.10 million during the quarter, compared to analysts’ expectations of $277.60 million. During the same period in the previous year, the business posted $1.40 earnings per share. The firm’s revenue for the quarter was down 28.7% compared to the same quarter last year. Equities analysts predict that Innospec Inc. will post 2.5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Tuesday, November 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.08 annualized dividend and a yield of 2.58%. Innospec’s dividend payout ratio is currently 19.92%.
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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