Deprince Race & Zollo Inc. Acquires New Position in Innospec Inc. $IOSP

Deprince Race & Zollo Inc. bought a new position in Innospec Inc. (NASDAQ:IOSP) in the first quarter, Holdings Channel reports. The institutional investor bought 68,029 shares of the specialty chemicals company’s stock, valued at approximately $4,967,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IOSP. EverSource Wealth Advisors LLC grew its position in Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 487 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Innospec by 271.0% in the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 420 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Innospec by 31.0% in the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 139 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Innospec in the 3rd quarter valued at $46,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Innospec by 316.4% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Stock Performance

Shares of Innospec stock opened at $83.10 on Friday. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $92.14. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 2.27 and a beta of 0.93. The company’s 50 day moving average price is $80.64 and its 200-day moving average price is $78.61.

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

Innospec Announces Dividend

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

Wall Street Analyst Weigh In

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

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.