Louisiana State Employees Retirement System Takes $803,000 Position in Innospec Inc. $IOSP

Louisiana State Employees Retirement System bought a new position in Innospec Inc. (NASDAQ:IOSP) during the 1st quarter, Holdings Channel reports. The fund bought 11,000 shares of the specialty chemicals company’s stock, valued at approximately $803,000.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in Innospec by 175.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 490,884 shares of the specialty chemicals company’s stock valued at $35,844,000 after buying an additional 312,680 shares in the last quarter. Diversified Trust Co boosted its position in shares of Innospec by 40.7% during the 1st quarter. Diversified Trust Co now owns 5,378 shares of the specialty chemicals company’s stock valued at $393,000 after acquiring an additional 1,555 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Innospec by 125.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company’s stock valued at $56,000 after acquiring an additional 405 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Innospec by 316.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock valued at $51,000 after purchasing an additional 503 shares in the last quarter. Finally, Invesco Ltd. increased its position in Innospec by 29.4% in the fourth quarter. Invesco Ltd. now owns 104,639 shares of the specialty chemicals company’s stock worth $8,009,000 after purchasing an additional 23,794 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IOSP has been the topic of a number of recent research reports. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, Wall Street Zen cut shares of Innospec from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Innospec Price Performance

NASDAQ IOSP opened at $83.10 on Monday. Innospec Inc. has a 52 week low of $65.51 and a 52 week high of $92.14. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 2.31 and a beta of 0.93. The company has a fifty day moving average of $80.80 and a two-hundred day moving average of $78.65.

Innospec (NASDAQ:IOSP) last announced its earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.03. The business had revenue of $453.20 million for the quarter, compared to the consensus estimate of $432.14 million. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 earnings per share. Equities research analysts anticipate that Innospec Inc. will post 4.8 EPS for the current year.

Innospec Announces Dividend

The company also recently declared a dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a dividend of $0.92 per share. This represents a yield of 239.0%. The ex-dividend date was Tuesday, May 19th. Innospec’s dividend payout ratio is presently 40.09%.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.