Innospec Inc. (NASDAQ:IOSP) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. decreased its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 99.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446 shares of the specialty chemicals company's stock after selling 145,129 shares during the quarter. Bessemer Group Inc.'s holdings in Innospec were worth $43,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IOSP. Raymond James Financial Inc. purchased a new stake in shares of Innospec in the fourth quarter valued at about $20,992,000. Norges Bank purchased a new stake in Innospec in the 4th quarter valued at approximately $11,312,000. JPMorgan Chase & Co. grew its holdings in Innospec by 17.3% during the 4th quarter. JPMorgan Chase & Co. now owns 312,880 shares of the specialty chemicals company's stock valued at $34,436,000 after buying an additional 46,192 shares during the last quarter. GAMMA Investing LLC increased its position in Innospec by 7,113.3% during the first quarter. GAMMA Investing LLC now owns 33,542 shares of the specialty chemicals company's stock worth $31,780,000 after buying an additional 33,077 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Innospec in the fourth quarter worth $2,931,000. Institutional investors and hedge funds own 96.64% of the company's stock.

Insider Buying and Selling at Innospec

In related news, Director Leslie J. Parrette sold 446 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total value of $40,420.98. Following the completion of the sale, the director directly owned 5,497 shares in the company, valued at approximately $498,193.11. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Innospec Price Performance

IOSP stock traded up $2.31 during midday trading on Tuesday, hitting $88.78. The stock had a trading volume of 392,729 shares, compared to its average volume of 166,317. The company's 50-day moving average price is $87.15 and its 200 day moving average price is $96.84. The firm has a market cap of $2.22 billion, a PE ratio of 82.20 and a beta of 1.05. Innospec Inc. has a 12-month low of $80.32 and a 12-month high of $133.53.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.02. The business had revenue of $440.80 million for the quarter, compared to analysts' expectations of $466.50 million. Innospec had a return on equity of 11.38% and a net margin of 1.51%. The business's revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 earnings per share. As a group, sell-side analysts anticipate that Innospec Inc. will post 6.18 EPS for the current year.

Innospec announced that its board has initiated a stock repurchase program on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the specialty chemicals company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Innospec Increases Dividend

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

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.