Mutual of America Capital Management LLC boosted its holdings in shares of Innospec Inc. (NASDAQ:IOSP – Get Rating) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,551 shares of the specialty chemicals company’s stock after buying an additional 184 shares during the period. Mutual of America Capital Management LLC’s holdings in Innospec were worth $329,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of IOSP. Mystic Asset Management Inc. acquired a new position in Innospec during the fourth quarter worth $58,000. Signaturefd LLC raised its holdings in shares of Innospec by 19.1% in the first quarter. Signaturefd LLC now owns 842 shares of the specialty chemicals company’s stock valued at $78,000 after purchasing an additional 135 shares during the last quarter. Ellevest Inc. raised its holdings in shares of Innospec by 63.0% in the first quarter. Ellevest Inc. now owns 1,156 shares of the specialty chemicals company’s stock valued at $107,000 after purchasing an additional 447 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Innospec in the first quarter valued at about $236,000. Finally, Profund Advisors LLC raised its holdings in shares of Innospec by 8.2% in the fourth quarter. Profund Advisors LLC now owns 2,748 shares of the specialty chemicals company’s stock valued at $248,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Monday, May 9th.
Innospec Trading Up 0.9 %
Innospec (NASDAQ:IOSP – Get Rating) last announced its earnings results on Tuesday, May 3rd. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.35. The business had revenue of $472.40 million for the quarter, compared to the consensus estimate of $397.67 million. Innospec had a net margin of 6.57% and a return on equity of 12.87%. Innospec’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period last year, the firm posted $1.06 earnings per share. Sell-side analysts predict that Innospec Inc. will post 5.59 EPS for the current year.
Innospec Increases Dividend
The company also recently announced a Semi-Annual dividend, which was paid on Thursday, May 26th. Investors of record on Tuesday, May 17th were paid a $0.63 dividend. This represents a dividend yield of 1.3%. This is an increase from Innospec’s previous Semi-Annual dividend of $0.59. The ex-dividend date of this dividend was Monday, May 16th. Innospec’s payout ratio is presently 29.58%.
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 various fuels.
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