Innospec Inc. (NASDAQ:IOSP) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 15.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,762 shares of the specialty chemicals company’s stock after selling 326 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Innospec were worth $167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IOSP. Allspring Global Investments Holdings LLC lifted its holdings in Innospec by 0.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,404,825 shares of the specialty chemicals company’s stock valued at $227,352,000 after purchasing an additional 19,018 shares in the last quarter. Geode Capital Management LLC raised its holdings in Innospec by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company’s stock valued at $76,184,000 after buying an additional 14,788 shares during the period. Janus Henderson Group PLC raised its holdings in Innospec by 1.0% in the fourth quarter. Janus Henderson Group PLC now owns 467,938 shares of the specialty chemicals company’s stock valued at $51,502,000 after buying an additional 4,527 shares during the period. Brown Advisory Inc. purchased a new position in Innospec in the first quarter valued at approximately $31,212,000. Finally, Northern Trust Corp raised its holdings in Innospec by 5.1% in the fourth quarter. Northern Trust Corp now owns 327,476 shares of the specialty chemicals company’s stock valued at $36,042,000 after buying an additional 15,912 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Innospec news, Director Leslie J. Parrette sold 446 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total value of $40,420.98. Following the completion of the sale, the director owned 5,497 shares in the company, valued at $498,193.11. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IOSP shares. Seaport Res Ptn raised shares of Innospec from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. Wall Street Zen cut Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th.

Innospec Stock Up 0.6%

IOSP opened at $85.01 on Friday. The stock has a fifty day moving average of $86.49 and a 200-day moving average of $95.79. The firm has a market capitalization of $2.12 billion, a P/E ratio of 78.71 and a beta of 1.05. Innospec Inc. has a 12-month low of $80.32 and a 12-month high of $133.53.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.02. Innospec had a net margin of 1.51% and a return on equity of 11.38%. The business had revenue of $440.80 million during the quarter, compared to analyst estimates of $466.50 million. During the same quarter in the previous year, the business earned $1.75 EPS. Innospec’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, analysts expect that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 20th were paid a dividend of $0.84 per share. This represents a dividend yield of 1.7%. This is an increase from Innospec’s previous semi-annual dividend of $0.79. The ex-dividend date was Tuesday, May 20th. Innospec’s payout ratio is 155.56%.

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.