Summit Global Investments Invests $1.05 Million in Innospec Inc. $IOSP

Summit Global Investments bought a new stake in Innospec Inc. (NASDAQ:IOSP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,430 shares of the specialty chemicals company’s stock, valued at approximately $1,054,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 487 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Innospec by 271.0% in the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 420 shares in the last quarter. Allworth Financial LP boosted its stake in Innospec by 31.0% in the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 139 shares in the last quarter. Danske Bank A S bought a new stake in shares of Innospec during the third quarter worth $46,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Innospec by 316.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 503 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Innospec Stock Performance

NASDAQ:IOSP opened at $84.50 on Wednesday. The stock’s fifty day moving average price is $81.96 and its two-hundred day moving average price is $79.03. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $92.14. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 2.32 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last released its 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. The company had revenue of $453.20 million during the quarter, compared to analysts’ expectations of $432.14 million. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $1.42 EPS. On average, equities analysts predict that Innospec Inc. will post 4.84 EPS for the current fiscal year.

Innospec Announces Dividend

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

Innospec Profile

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.