Innospec Inc. (IOSP) Stake Lowered by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in Innospec Inc. (NASDAQ:IOSP) by 8.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,442 shares of the specialty chemicals company’s stock after selling 4,079 shares during the quarter. California State Teachers Retirement System owned 0.18% of Innospec worth $2,782,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. UBS Asset Management Americas Inc. increased its stake in Innospec by 28.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 14,097 shares of the specialty chemicals company’s stock worth $913,000 after buying an additional 3,091 shares during the period. Vanguard Group Inc. increased its stake in Innospec by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 2,103,188 shares of the specialty chemicals company’s stock worth $136,181,000 after buying an additional 120,723 shares during the period. Geode Capital Management LLC increased its stake in Innospec by 4.9% during the 1st quarter. Geode Capital Management LLC now owns 200,856 shares of the specialty chemicals company’s stock worth $13,005,000 after buying an additional 9,461 shares during the period. BlackRock Inc. increased its stake in Innospec by 29,556.5% during the 1st quarter. BlackRock Inc. now owns 2,971,282 shares of the specialty chemicals company’s stock worth $192,389,000 after buying an additional 2,961,263 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Innospec by 7.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 141,549 shares of the specialty chemicals company’s stock worth $9,166,000 after buying an additional 10,252 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Several brokerages recently weighed in on IOSP. ValuEngine raised shares of Innospec from a “hold” rating to a “buy” rating in a research note on Thursday. Monness Crespi & Hardt downgraded shares of Innospec from a “buy” rating to a “neutral” rating in a research note on Thursday. KeyCorp reaffirmed an “overweight” rating on shares of Innospec in a research note on Thursday. Zacks Investment Research raised shares of Innospec from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Friday. Finally, BidaskClub downgraded shares of Innospec from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $70.50.

Shares of Innospec Inc. (NASDAQ IOSP) opened at $65.85 on Friday. Innospec Inc. has a 52 week low of $54.10 and a 52 week high of $74.75. The firm has a market cap of $1,635.32, a P/E ratio of 15.94 and a beta of 1.16. The company has a current ratio of 2.24, a quick ratio of 1.32 and a debt-to-equity ratio of 0.30.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.15. Innospec had a net margin of 7.45% and a return on equity of 15.05%. The company had revenue of $332.40 million for the quarter, compared to the consensus estimate of $309.40 million. During the same period in the prior year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 61.8% compared to the same quarter last year. analysts predict that Innospec Inc. will post 4.3 earnings per share for the current year.

The company also recently disclosed a semiannual dividend, which will be paid on Monday, November 27th. Shareholders of record on Thursday, November 16th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This is an increase from Innospec’s previous semiannual dividend of $0.38. This represents a dividend yield of 1.12%. Innospec’s dividend payout ratio is currently 21.05%.

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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.

Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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