Bahl & Gaynor Inc. Decreases Holdings in Innospec Inc. $IOSP

Bahl & Gaynor Inc. reduced its position in Innospec Inc. (NASDAQ:IOSP) by 14.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,575 shares of the specialty chemicals company’s stock after selling 4,368 shares during the period. Bahl & Gaynor Inc. owned approximately 0.11% of Innospec worth $2,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Innospec during the 2nd quarter valued at about $28,000. Blue Trust Inc. increased its holdings in Innospec by 38.3% during the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock valued at $57,000 after buying an additional 186 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Innospec during the first quarter valued at approximately $121,000. Banque Transatlantique SA bought a new position in Innospec in the first quarter worth approximately $196,000. Finally, Baird Financial Group Inc. boosted its stake 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 acquiring an additional 223 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Insider Transactions at Innospec

In related news, Director Leslie J. Parrette purchased 340 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average cost of $74.09 per share, for a total transaction of $25,190.60. Following the completion of the transaction, the director directly owned 5,837 shares in the company, valued at $432,463.33. This represents a 6.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on IOSP. Wall Street Zen lowered Innospec from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Zacks Research lowered shares of Innospec from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings lowered shares of Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Innospec Trading Up 2.1%

Shares of NASDAQ IOSP opened at $72.13 on Friday. Innospec Inc. has a 12-month low of $70.10 and a 12-month high of $122.19. The firm’s 50-day moving average price is $75.83 and its 200-day moving average price is $82.06. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 92.47 and a beta of 1.06.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $443.00 million. During the same period in the previous year, the firm posted $1.35 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th will be issued a dividend of $0.87 per share. This represents a yield of 245.0%. The ex-dividend date is Tuesday, November 18th. Innospec’s dividend payout ratio is presently -5,800.00%.

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.