Dynamic Technology Lab Private Ltd Acquires 6,616 Shares of Innospec Inc. $IOSP

Dynamic Technology Lab Private Ltd increased its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 65.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,801 shares of the specialty chemicals company’s stock after acquiring an additional 6,616 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Innospec were worth $1,413,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IOSP. Blue Trust Inc. lifted its stake in Innospec by 38.3% during the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 186 shares during the period. US Bancorp DE grew its stake in shares of Innospec by 4.2% in the 1st quarter. US Bancorp DE now owns 5,082 shares of the specialty chemicals company’s stock valued at $482,000 after purchasing an additional 207 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Innospec by 2.9% in the 1st quarter. Hsbc Holdings PLC now owns 7,398 shares of the specialty chemicals company’s stock worth $700,000 after buying an additional 208 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Innospec by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 223 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in shares of Innospec by 6.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,628 shares of the specialty chemicals company’s stock worth $473,000 after buying an additional 320 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Insider Buying and Selling at Innospec

In related news, Director Leslie J. Parrette bought 340 shares of the company’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $74.09 per share, with a total value of $25,190.60. Following the completion of the purchase, the director owned 5,837 shares in the company, valued at approximately $432,463.33. The trade was a 6.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.31% of the company’s stock.

Innospec Stock Performance

Shares of IOSP opened at $70.62 on Friday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 90.54 and a beta of 1.06. The stock has a fifty day moving average price of $76.04 and a two-hundred day moving average price of $82.27. Innospec Inc. has a 52-week low of $70.18 and a 52-week high of $122.19.

Innospec (NASDAQ:IOSP) last announced its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The company had revenue of $441.90 million during the quarter, compared to analyst estimates of $443.00 million. During the same period last year, the company posted $1.35 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be given a $0.87 dividend. This represents a yield of 245.0%. The ex-dividend date is Tuesday, November 18th. Innospec’s dividend payout ratio (DPR) is presently -5,800.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen cut Innospec from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Weiss Ratings downgraded shares of Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Finally, Zacks Research cut shares of Innospec from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.