California Public Employees Retirement System Sells 13,686 Shares of Innospec Inc. (NASDAQ:IOSP)

California Public Employees Retirement System lessened its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 35.4% during the 1st quarter, HoldingsChannel reports. The fund owned 25,021 shares of the specialty chemicals company’s stock after selling 13,686 shares during the period. California Public Employees Retirement System’s holdings in Innospec were worth $2,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thrivent Financial for Lutherans raised its holdings in shares of Innospec by 2.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 175,571 shares of the specialty chemicals company’s stock worth $10,843,000 after purchasing an additional 4,091 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Innospec by 38.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,869 shares of the specialty chemicals company’s stock worth $1,845,000 after purchasing an additional 8,273 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Innospec by 1.8% in the 4th quarter. BlackRock Inc. now owns 3,993,716 shares of the specialty chemicals company’s stock worth $246,650,000 after purchasing an additional 72,441 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of Innospec by 192.6% in the 4th quarter. GSA Capital Partners LLP now owns 8,137 shares of the specialty chemicals company’s stock worth $503,000 after purchasing an additional 5,356 shares in the last quarter. Finally, LS Investment Advisors LLC raised its holdings in shares of Innospec by 173.5% in the 4th quarter. LS Investment Advisors LLC now owns 1,972 shares of the specialty chemicals company’s stock worth $122,000 after purchasing an additional 1,251 shares in the last quarter. 93.34% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Catherine Hessner sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $83.64, for a total transaction of $167,280.00. Following the transaction, the vice president now directly owns 20,923 shares of the company’s stock, valued at $1,749,999.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Williams sold 6,525 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $83.18, for a total transaction of $542,749.50. Following the transaction, the chief executive officer now directly owns 186,579 shares in the company, valued at $15,519,641.22. The disclosure for this sale can be found here. Insiders have sold 10,825 shares of company stock worth $898,986 in the last 90 days. 1.62% of the stock is owned by company insiders.

IOSP has been the topic of a number of research reports. BidaskClub downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Zacks Investment Research upgraded shares of Innospec from a “hold” rating to a “strong-buy” rating and set a $94.00 target price on the stock in a report on Friday, March 1st. Finally, ValuEngine upgraded shares of Innospec from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th.

IOSP stock opened at $84.80 on Wednesday. Innospec Inc. has a 52-week low of $53.07 and a 52-week high of $88.84. The company has a current ratio of 2.28, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.07 billion, a PE ratio of 17.56 and a beta of 1.27.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, May 7th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.07. Innospec had a net margin of 6.08% and a return on equity of 14.92%. The business had revenue of $388.30 million for the quarter. During the same quarter in the prior year, the firm earned $1.02 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Innospec Inc. will post 5.15 EPS for the current fiscal year.

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.50 per share. The ex-dividend date was Monday, May 20th. This represents a dividend yield of 1.18%. Innospec’s dividend payout ratio is currently 20.70%.

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About Innospec

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.

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Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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