Algert Global LLC Sells 17,297 Shares of Innospec Inc. (NASDAQ:IOSP)

Algert Global LLC decreased its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 33.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,215 shares of the specialty chemicals company's stock after selling 17,297 shares during the period. Algert Global LLC owned 0.14% of Innospec worth $3,766,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. bought a new position in shares of Innospec during the fourth quarter valued at approximately $53,457,000. Raymond James Financial Inc. bought a new stake in Innospec in the 4th quarter worth approximately $20,992,000. Norges Bank purchased a new stake in shares of Innospec in the fourth quarter valued at $11,312,000. JPMorgan Chase & Co. raised its position in Innospec by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company's stock valued at $30,160,000 after purchasing an additional 52,640 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Innospec by 357.1% in the 3rd quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company's stock worth $5,039,000 after buying an additional 34,811 shares during the last quarter. 96.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Seaport Res Ptn upgraded Innospec from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. StockNews.com lowered shares of Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th.

Innospec Stock Performance

NASDAQ IOSP traded down $2.93 during trading hours on Friday, reaching $90.47. The company's stock had a trading volume of 193,390 shares, compared to its average volume of 151,324. The stock has a market cap of $2.27 billion, a PE ratio of 63.71 and a beta of 1.11. Innospec Inc. has a fifty-two week low of $80.32 and a fifty-two week high of $133.59. The company's 50-day moving average is $92.38 and its two-hundred day moving average is $105.49.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. The firm had revenue of $440.80 million during the quarter, compared to analyst estimates of $466.50 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. Innospec's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. Equities analysts expect that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 20th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This is an increase from Innospec's previous semi-annual dividend of $0.79. This represents a yield of 1.7%. Innospec's payout ratio is presently 111.27%.

Innospec announced that its Board of Directors has authorized a stock repurchase plan on Monday, March 10th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Innospec

In other Innospec news, VP Philip John Boon sold 3,754 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $387,788.20. Following the transaction, the vice president now directly owns 20,079 shares in the company, valued at approximately $2,074,160.70. This trade represents a 15.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Milton C. Blackmore sold 652 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $67,351.60. Following the sale, the director now directly owns 8,376 shares of the company's stock, valued at approximately $865,240.80. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,696 shares of company stock worth $794,853 over the last three months. Corporate insiders own 1.31% of the company's stock.

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.