Medina Value Partners LLC Buys 142,813 Shares of Innospec Inc. $IOSP

Medina Value Partners LLC boosted its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 60.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 378,769 shares of the specialty chemicals company’s stock after purchasing an additional 142,813 shares during the quarter. Innospec accounts for 6.8% of Medina Value Partners LLC’s investment portfolio, making the stock its 3rd largest position. Medina Value Partners LLC’s holdings in Innospec were worth $28,991,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Innospec by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,175,122 shares of the specialty chemicals company’s stock worth $89,946,000 after buying an additional 8,147 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Innospec by 13.7% during the fourth quarter. Victory Capital Management Inc. now owns 950,074 shares of the specialty chemicals company’s stock worth $72,719,000 after buying an additional 114,179 shares during the last quarter. State Street Corp boosted its stake in Innospec by 2.1% during the fourth quarter. State Street Corp now owns 949,038 shares of the specialty chemicals company’s stock worth $72,639,000 after buying an additional 19,915 shares during the last quarter. Nuveen LLC boosted its stake in Innospec by 22.2% during the fourth quarter. Nuveen LLC now owns 502,603 shares of the specialty chemicals company’s stock worth $38,469,000 after buying an additional 91,326 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Innospec by 71.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 484,968 shares of the specialty chemicals company’s stock worth $37,119,000 after buying an additional 202,325 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. 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 Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Innospec currently has an average rating of “Hold”.

Innospec Price Performance

Shares of Innospec stock opened at $86.59 on Monday. Innospec Inc. has a 52 week low of $65.51 and a 52 week high of $92.14. The business’s fifty day simple moving average is $78.46 and its 200-day simple moving average is $77.90. The firm has a market cap of $2.13 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $432.14 million. During the same quarter in the prior year, the company posted $1.42 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Innospec Inc. will post 4.8 earnings per share for the current year.

Innospec Announces Dividend

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

About Innospec

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.