Teacher Retirement System of Texas Sells 50,780 Shares of Innospec Inc. (NASDAQ:IOSP)

Teacher Retirement System of Texas lowered its stake in Innospec Inc. (NASDAQ:IOSP) by 89.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,201 shares of the specialty chemicals company’s stock after selling 50,780 shares during the period. Teacher Retirement System of Texas’ holdings in Innospec were worth $588,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in IOSP. Allspring Global Investments Holdings LLC boosted its holdings in shares of Innospec by 0.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,404,825 shares of the specialty chemicals company’s stock worth $227,352,000 after buying an additional 19,018 shares in the last quarter. Geode Capital Management LLC boosted its stake in Innospec by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company’s stock valued at $76,184,000 after acquiring an additional 14,788 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Innospec by 1.0% in the 4th quarter. Janus Henderson Group PLC now owns 467,938 shares of the specialty chemicals company’s stock worth $51,502,000 after buying an additional 4,527 shares during the period. Northern Trust Corp boosted its holdings in shares of Innospec by 5.1% in the fourth quarter. Northern Trust Corp now owns 327,476 shares of the specialty chemicals company’s stock worth $36,042,000 after acquiring an additional 15,912 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Innospec by 17.3% in the fourth quarter. JPMorgan Chase & Co. now owns 312,880 shares of the specialty chemicals company’s stock worth $34,436,000 after purchasing an additional 46,192 shares during the period. Institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IOSP shares. Wall Street Zen downgraded Innospec from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Seaport Res Ptn raised Innospec from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 21st.

Innospec Price Performance

Shares of NASDAQ:IOSP opened at $85.08 on Wednesday. The company has a market cap of $2.12 billion, a PE ratio of 78.78 and a beta of 1.05. Innospec Inc. has a 1 year low of $80.32 and a 1 year high of $133.53. The stock’s 50-day moving average is $86.81 and its 200 day moving average is $96.04.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. Innospec had a net margin of 1.51% and a return on equity of 11.38%. The business had revenue of $440.80 million during the quarter, compared to analyst estimates of $466.50 million. During the same period last year, the business posted $1.75 earnings per share. Innospec’s quarterly revenue was down 11.9% compared to the same quarter last year. Analysts expect that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th were given a $0.84 dividend. The ex-dividend date was Tuesday, May 20th. This is an increase from Innospec’s previous semi-annual dividend of $0.79. This represents a dividend yield of 1.7%. Innospec’s dividend payout ratio is currently 155.56%.

Insider Transactions at Innospec

In other Innospec news, Director Leslie J. Parrette sold 446 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total value of $40,420.98. Following the sale, the director owned 5,497 shares in the company, valued at approximately $498,193.11. This represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.31% of the stock is currently owned by company insiders.

Innospec 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.