BNP Paribas Financial Markets decreased its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 64.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,240 shares of the specialty chemicals company's stock after selling 7,558 shares during the period. BNP Paribas Financial Markets' holdings in Innospec were worth $467,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Innospec in the fourth quarter valued at $106,000. Covestor Ltd lifted its holdings in Innospec by 13.9% in the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company's stock valued at $106,000 after acquiring an additional 118 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Innospec by 54.2% during the 4th quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company's stock valued at $136,000 after purchasing an additional 422 shares in the last quarter. KBC Group NV grew its stake in shares of Innospec by 82.3% in the 4th quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company's stock worth $136,000 after purchasing an additional 558 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Innospec by 91.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company's stock worth $198,000 after purchasing an additional 863 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.
Innospec Stock Performance
Shares of NASDAQ IOSP traded up $2.27 during mid-day trading on Tuesday, reaching $87.85. The company had a trading volume of 151,765 shares, compared to its average volume of 154,472. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 61.87 and a beta of 1.11. The stock has a fifty day moving average of $90.01 and a two-hundred day moving average of $103.55. 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 results on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. The company had revenue of $440.80 million during the quarter, compared to the consensus estimate of $466.50 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The business's quarterly revenue was down 11.9% on a year-over-year basis. During the same period last year, the business earned $1.75 EPS. Sell-side analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.
Innospec announced that its board has initiated a stock repurchase program on Monday, March 10th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Innospec Increases Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th will be given a $0.84 dividend. This represents a yield of 1.7%. This is an increase from Innospec's previous semi-annual dividend of $0.79. The ex-dividend date of this dividend is Tuesday, May 20th. Innospec's payout ratio is currently 155.56%.
Insiders Place Their Bets
In related 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 transaction, the director now directly owns 5,497 shares of the company's stock, valued at approximately $498,193.11. This trade represents a 7.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.31% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently 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. Wall Street Zen lowered Innospec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th.
Read Our Latest Stock Analysis on IOSP
About Innospec
(
Free Report)
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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