Algert Global LLC lessened its position in shares of Innospec Inc. (NASDAQ:IOSP) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,245 shares of the specialty chemicals company’s stock after selling 892 shares during the quarter. Innospec accounts for 0.9% of Algert Global LLC’s portfolio, making the stock its 8th largest position. Algert Global LLC owned approximately 0.23% of Innospec worth $4,394,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. purchased a new stake in shares of Innospec in the second quarter worth about $116,000. First Hawaiian Bank purchased a new stake in shares of Innospec in the third quarter worth about $147,000. Burney Co. purchased a new stake in shares of Innospec in the second quarter worth about $207,000. UBS Group AG boosted its stake in shares of Innospec by 69.3% in the first quarter. UBS Group AG now owns 2,771 shares of the specialty chemicals company’s stock worth $190,000 after buying an additional 1,134 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Innospec in the third quarter worth about $213,000. Institutional investors and hedge funds own 93.69% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Innospec from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. ValuEngine upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. BidaskClub upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Finally, KeyCorp lowered their target price on Innospec from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $84.50.
Shares of IOSP opened at $68.63 on Thursday. Innospec Inc. has a 52 week low of $62.13 and a 52 week high of $83.20. The company has a current ratio of 2.27, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.80 billion, a PE ratio of 14.73 and a beta of 1.11.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, November 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The company had revenue of $363.10 million for the quarter, compared to the consensus estimate of $362.50 million. Innospec had a return on equity of 14.02% and a net margin of 4.17%. Innospec’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 earnings per share. On average, research analysts predict that Innospec Inc. will post 4.55 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which was paid on Thursday, November 29th. Shareholders of record on Monday, November 19th were given a dividend of $0.45 per share. The ex-dividend date was Friday, November 16th. This represents a yield of 1.18%. Innospec’s dividend payout ratio is currently 19.31%.
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Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.
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