American Century Companies Inc. increased its stake in Innospec Inc. (NASDAQ:IOSP) by 24.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 449,089 shares of the specialty chemicals company’s stock after acquiring an additional 88,053 shares during the period. American Century Companies Inc. owned approximately 1.86% of Innospec worth $27,686,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in IOSP. SG Americas Securities LLC acquired a new position in Innospec during the second quarter valued at approximately $106,000. Victory Capital Management Inc. lifted its position in Innospec by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,720 shares of the specialty chemicals company’s stock valued at $178,000 after buying an additional 409 shares in the last quarter. Pinebridge Investments L.P. lifted its position in Innospec by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock valued at $209,000 after buying an additional 41 shares in the last quarter. Amalgamated Bank lifted its position in Innospec by 1.8% during the second quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock valued at $213,000 after buying an additional 57 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in Innospec during the first quarter valued at approximately $240,000. 88.80% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Innospec Inc. (NASDAQ IOSP) opened at $68.10 on Wednesday. The stock has a market cap of $1,623.25, a P/E ratio of 15.82 and a beta of 1.16. Innospec Inc. has a 12 month low of $54.10 and a 12 month high of $74.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.35 and a current ratio of 2.24.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. The company had revenue of $332.40 million for the quarter, compared to analyst estimates of $309.40 million. Innospec had a net margin of 7.45% and a return on equity of 15.05%. The business’s quarterly revenue was up 61.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. sell-side analysts forecast that Innospec Inc. will post 4.3 EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Monday, November 27th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a dividend yield of 1.12%. This is a positive change from Innospec’s previous semiannual dividend of $0.38. Innospec’s dividend payout ratio (DPR) is currently 21.05%.
A number of research analysts have weighed in on IOSP shares. raised shares of Innospec from a “hold” rating to an “accumulate” rating in a research report on Tuesday. raised shares of Innospec from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Friday, November 10th. raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, August 22nd. raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, KeyCorp reiterated an “overweight” rating on shares of Innospec in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Innospec currently has a consensus rating of “Hold” and an average price target of $70.50.
Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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