Innospec Inc. (NASDAQ:IOSP) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 64.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IOSP. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Innospec in the fourth quarter worth about $106,000. Covestor Ltd raised its holdings in shares of Innospec by 13.9% during the fourth 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. raised its holdings in shares of Innospec by 54.2% during the fourth quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company's stock valued at $136,000 after acquiring an additional 422 shares during the last quarter. KBC Group NV raised its holdings in shares of Innospec by 82.3% during the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company's stock valued at $136,000 after acquiring an additional 558 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Innospec by 91.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company's stock valued at $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.

Analysts Set New Price Targets

Several equities research analysts recently commented on IOSP shares. Seaport Res Ptn raised Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th.

Insiders Place Their Bets

In related news, Director Leslie J. Parrette sold 446 shares of Innospec stock in a transaction 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 completion of the transaction, the director now directly owns 5,497 shares in the company, valued at approximately $498,193.11. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.31% of the stock is owned by insiders.

Innospec Trading Down 2.2%

IOSP stock traded down $1.92 during midday trading on Wednesday, hitting $85.94. 67,374 shares of the company's stock were exchanged, compared to its average volume of 154,142. The business has a 50-day simple moving average of $89.80 and a two-hundred day simple moving average of $103.44. The stock has a market capitalization of $2.14 billion, a PE ratio of 60.73 and a beta of 1.11. Innospec Inc. has a 1-year low of $80.32 and a 1-year high of $133.53.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its earnings results 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 company had revenue of $440.80 million during the quarter, compared to analysts' expectations of $466.50 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The firm's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.75 earnings per share. As a group, research analysts expect that Innospec Inc. will post 6.18 EPS for the current fiscal year.

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 paid a dividend of $0.84 per share. This is a boost from Innospec's previous semi-annual dividend of $0.79. The ex-dividend date is Tuesday, May 20th. This represents a yield of 1.7%. Innospec's dividend payout ratio (DPR) is 155.56%.

Innospec declared that its board has initiated a share buyback 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 repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

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.