AXQ Capital LP Purchases New Holdings in Innospec Inc. $IOSP

AXQ Capital LP acquired a new position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,751 shares of the specialty chemicals company's stock, valued at approximately $568,000.

Several other institutional investors have also bought and sold shares of IOSP. Franklin Resources Inc. grew its holdings in Innospec by 2.5% during the 2nd quarter. Franklin Resources Inc. now owns 27,672 shares of the specialty chemicals company's stock worth $2,327,000 after acquiring an additional 673 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Innospec by 1.4% during the second quarter. Legal & General Group Plc now owns 69,673 shares of the specialty chemicals company's stock worth $5,859,000 after purchasing an additional 943 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Innospec by 17.6% during the second quarter. JPMorgan Chase & Co. now owns 321,164 shares of the specialty chemicals company's stock worth $27,007,000 after acquiring an additional 48,152 shares in the last quarter. Entropy Technologies LP bought a new stake in Innospec during the 2nd quarter worth approximately $873,000. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Innospec by 65.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 16,801 shares of the specialty chemicals company's stock worth $1,413,000 after acquiring an additional 6,616 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Innospec Stock Up 2.1%

IOSP stock opened at $72.13 on Friday. The firm has a market capitalization of $1.79 billion, a PE ratio of 92.47 and a beta of 1.06. The stock's 50 day moving average is $75.83 and its 200-day moving average is $82.06. Innospec Inc. has a twelve month low of $70.10 and a twelve month high of $122.19.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The business had revenue of $441.90 million for the quarter, compared to analyst estimates of $443.00 million. During the same period last year, the company posted $1.35 earnings per share. Innospec's quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a yield of 245.0%. Innospec's payout ratio is currently -5,800.00%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IOSP shares. Wall Street Zen lowered Innospec from a "buy" rating to a "hold" rating in a report on Sunday, October 19th. Weiss Ratings lowered shares of Innospec from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Saturday, October 25th. Finally, Zacks Research downgraded Innospec from a "hold" rating to a "strong sell" rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Innospec has a consensus rating of "Hold".

Read Our Latest Report on IOSP

Insider Buying and Selling

In other Innospec news, Director Leslie J. Parrette acquired 340 shares of the business's stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $74.09 per share, with a total value of $25,190.60. Following the completion of the acquisition, the director owned 5,837 shares of the company's stock, valued at $432,463.33. This trade represents a 6.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.31% of the stock is currently owned by insiders.

About Innospec

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.

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