Innospec Inc. $IOSP Shares Purchased by First Wilshire Securities Management Inc.

First Wilshire Securities Management Inc. boosted its stake in Innospec Inc. (NASDAQ:IOSP) by 47.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 148,072 shares of the specialty chemicals company’s stock after buying an additional 47,498 shares during the quarter. Innospec comprises approximately 2.4% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 13th biggest holding. First Wilshire Securities Management Inc.’s holdings in Innospec were worth $10,812,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Allworth Financial LP increased its stake in 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 buying an additional 139 shares in the last quarter. State of Wyoming lifted its position in shares of Innospec by 27.5% in the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after acquiring an additional 173 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Innospec by 0.8% in the second quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock valued at $1,939,000 after acquiring an additional 179 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Innospec by 0.7% in the third 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 during the last quarter. Finally, Amundi increased its position in shares of Innospec by 5.0% during the third quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock worth $354,000 after purchasing an additional 214 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Innospec Price Performance

IOSP opened at $84.50 on Wednesday. The company’s 50 day simple moving average is $81.96 and its two-hundred day simple moving average is $79.03. Innospec Inc. has a 1-year low of $65.51 and a 1-year high of $92.14. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.32 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last issued its earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.03. The business had revenue of $453.20 million for the quarter, compared to analysts’ expectations of $432.14 million. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 EPS. On average, equities analysts anticipate that Innospec Inc. will post 4.84 earnings per share for the current fiscal year.

Innospec Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a yield of 239.0%. Innospec’s payout ratio is 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.