Bank of New York Mellon Corp Sells 8,877 Shares of Innospec Inc. (NASDAQ:IOSP)

Bank of New York Mellon Corp cut its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,739 shares of the specialty chemicals company's stock after selling 8,877 shares during the period. Bank of New York Mellon Corp owned 0.91% of Innospec worth $21,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IOSP. Proficio Capital Partners LLC purchased a new stake in shares of Innospec during the 4th quarter worth about $1,623,000. PNC Financial Services Group Inc. raised its stake in shares of Innospec by 8.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company's stock worth $206,000 after purchasing an additional 151 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Innospec by 12.6% during the 4th quarter. HighTower Advisors LLC now owns 3,494 shares of the specialty chemicals company's stock valued at $385,000 after acquiring an additional 391 shares during the last quarter. Swiss National Bank increased its holdings in shares of Innospec by 0.8% during the 4th quarter. Swiss National Bank now owns 49,103 shares of the specialty chemicals company's stock valued at $5,404,000 after acquiring an additional 400 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of Innospec during the 4th quarter valued at about $257,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen lowered Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Seaport Res Ptn raised Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st.

Innospec Stock Performance

Shares of NASDAQ IOSP traded down $1.99 during mid-day trading on Friday, reaching $83.02. 175,698 shares of the company traded hands, compared to its average volume of 167,982. The stock has a market cap of $2.07 billion, a PE ratio of 76.87 and a beta of 1.05. The company's fifty day moving average is $86.35 and its two-hundred day moving average is $95.42. Innospec Inc. has a fifty-two week low of $80.32 and a fifty-two week high of $133.53.

Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. The firm had revenue of $440.80 million for the quarter, compared to analyst estimates of $466.50 million. Innospec had a return on equity of 11.38% and a net margin of 1.51%. The company's revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.75 EPS. Research analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were issued a $0.84 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a yield of 1.7%. This is a positive change from Innospec's previous semi-annual dividend of $0.79. Innospec's dividend payout ratio (DPR) is 155.56%.

Insider Transactions at Innospec

In other Innospec news, Director Leslie J. Parrette sold 446 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 of the company's stock, valued at $498,193.11. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.31% of the stock is 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.