American Century Companies Inc. cut its position in shares of Innospec (NASDAQ:IOSP) by 27.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 267,776 shares of the specialty chemicals company’s stock after selling 102,977 shares during the quarter. American Century Companies Inc. owned 1.08% of Innospec worth $18,369,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Comerica Bank raised its holdings in Innospec by 3.2% during the first quarter. Comerica Bank now owns 25,595 shares of the specialty chemicals company’s stock worth $1,862,000 after purchasing an additional 791 shares during the last quarter. Meadow Creek Investment Management LLC raised its holdings in Innospec by 29.1% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,724 shares of the specialty chemicals company’s stock worth $263,000 after purchasing an additional 840 shares during the last quarter. Rhumbline Advisers raised its holdings in Innospec by 1.6% during the first quarter. Rhumbline Advisers now owns 59,547 shares of the specialty chemicals company’s stock worth $4,085,000 after purchasing an additional 922 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Innospec by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 330,123 shares of the specialty chemicals company’s stock worth $23,307,000 after purchasing an additional 1,191 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in Innospec during the fourth quarter worth $142,000. 89.35% of the stock is owned by hedge funds and other institutional investors.
Innospec stock opened at $75.60 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 16.22 and a beta of 1.03. Innospec has a fifty-two week low of $74.05 and a fifty-two week high of $75.05.
The business also recently declared a semiannual dividend, which will be paid on Thursday, May 31st. Shareholders of record on Monday, May 21st will be given a dividend of $0.44 per share. This is an increase from Innospec’s previous semiannual dividend of $0.39. The ex-dividend date of this dividend is Friday, May 18th. This represents a yield of 1.18%. Innospec’s dividend payout ratio (DPR) is presently 16.74%.
Several equities analysts recently issued reports on the company. ValuEngine raised Innospec from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 24th. Johnson Rice raised Innospec from an “accumulate” rating to a “buy” rating in a report on Tuesday, April 24th. Zacks Investment Research raised Innospec from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. Finally, BidaskClub raised Innospec from a “hold” rating to a “buy” rating in a report on Thursday, April 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.50.
In other Innospec news, CFO Ian Cleminson sold 2,261 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $68.55, for a total transaction of $154,991.55. Following the completion of the transaction, the chief financial officer now owns 26,685 shares of the company’s stock, valued at $1,829,256.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip Curran sold 2,000 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $73.63, for a total value of $147,260.00. Following the transaction, the insider now directly owns 4,218 shares of the company’s stock, valued at approximately $310,571.34. The disclosure for this sale can be found here. Insiders have sold 14,112 shares of company stock valued at $979,984 in the last three months. 2.02% of the stock is currently owned by company insiders.
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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