Ballentine Partners LLC Has $568,000 Position in Innospec Inc. (NASDAQ:IOSP)

Ballentine Partners LLC grew its holdings in Innospec Inc. (NASDAQ:IOSP) by 101.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,408 shares of the specialty chemicals company’s stock after purchasing an additional 2,222 shares during the quarter. Ballentine Partners LLC’s holdings in Innospec were worth $568,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Los Angeles Capital Management LLC boosted its stake in Innospec by 11.1% in the first quarter. Los Angeles Capital Management LLC now owns 3,651 shares of the specialty chemicals company’s stock worth $471,000 after purchasing an additional 364 shares in the last quarter. Vanguard Group Inc. boosted its stake in Innospec by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 2,953,918 shares of the specialty chemicals company’s stock worth $364,041,000 after purchasing an additional 12,562 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Innospec in the fourth quarter worth $504,000. Eagle Asset Management Inc. boosted its stake in Innospec by 4.6% in the fourth quarter. Eagle Asset Management Inc. now owns 198,344 shares of the specialty chemicals company’s stock worth $24,444,000 after purchasing an additional 8,644 shares in the last quarter. Finally, Evoke Wealth LLC acquired a new position in Innospec in the fourth quarter worth $3,866,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th.

Innospec Stock Up 0.9 %

NASDAQ IOSP traded up $1.10 on Monday, reaching $124.34. The company had a trading volume of 2,943 shares, compared to its average volume of 98,406. The stock’s 50 day moving average is $125.51 and its 200-day moving average is $122.86. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 20.92 and a beta of 1.14. Innospec Inc. has a 52 week low of $95.69 and a 52 week high of $133.71.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Thursday, May 9th. The specialty chemicals company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. Innospec had a return on equity of 14.22% and a net margin of 7.60%. The company had revenue of $500.20 million during the quarter, compared to the consensus estimate of $508.15 million. As a group, analysts forecast that Innospec Inc. will post 6.7 EPS for the current year.

Innospec Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.72 per share. The ex-dividend date was Friday, May 17th. This represents a yield of 1.2%. Innospec’s dividend payout ratio (DPR) is presently 25.81%.

Insider Activity at Innospec

In related news, SVP Hardy Louis Griffin III sold 525 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $129.78, for a total transaction of $68,134.50. Following the completion of the transaction, the senior vice president now directly owns 4,523 shares of the company’s stock, valued at $586,994.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.

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.