SG Americas Securities LLC Reduces Position in Innospec Inc. $IOSP

SG Americas Securities LLC trimmed its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,868 shares of the specialty chemicals company’s stock after selling 14,946 shares during the quarter. SG Americas Securities LLC’s holdings in Innospec were worth $4,445,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. raised its holdings in Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock valued at $206,000 after acquiring an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Innospec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock valued at $1,405,000 after purchasing an additional 645 shares during the period. Millennium Management LLC grew its position in shares of Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after acquiring an additional 168,355 shares during the last quarter. NewEdge Advisors LLC grew its position in Innospec by 37.4% in the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $433,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Innospec by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock worth $12,545,000 after buying an additional 8,014 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IOSP. Wall Street Zen cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research raised Innospec from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Innospec presently has a consensus rating of “Reduce”.

Innospec Price Performance

Innospec stock opened at $80.71 on Tuesday. Innospec Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $92.14. The firm’s 50 day simple moving average is $80.26 and its 200-day simple moving average is $78.54. The company has a market cap of $1.99 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.30 and a beta of 0.92.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, beating 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 business had revenue of $453.20 million during the quarter, compared to the consensus estimate of $432.14 million. During the same quarter in the prior year, the firm earned $1.42 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect that Innospec Inc. will post 4.8 EPS for the current fiscal year.

Innospec Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a $0.92 dividend. This represents a dividend yield of 239.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Innospec’s dividend payout ratio (DPR) is 40.09%.

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.