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

BNP Paribas Financial Markets trimmed its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 64.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Innospec by 1.6% in the 4th quarter. Victory Capital Management Inc. now owns 922,220 shares of the specialty chemicals company's stock valued at $101,500,000 after purchasing an additional 14,188 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Innospec by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company's stock worth $76,184,000 after purchasing an additional 14,788 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Innospec in the fourth quarter valued at $53,457,000. Charles Schwab Investment Management Inc. increased its holdings in Innospec by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 352,577 shares of the specialty chemicals company's stock valued at $38,805,000 after buying an additional 16,055 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Innospec by 5.1% in the fourth quarter. Northern Trust Corp now owns 327,476 shares of the specialty chemicals company's stock valued at $36,042,000 after buying an additional 15,912 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on IOSP shares. Wall Street Zen cut shares of Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Seaport Res Ptn upgraded shares of Innospec from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st.

Insider Buying and Selling at Innospec

In other news, Director Leslie J. Parrette sold 446 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total transaction of $40,420.98. Following the transaction, the director now directly owns 5,497 shares in the company, valued at $498,193.11. The trade was a 7.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.31% of the company's stock.

Innospec Trading Up 0.5%

Shares of Innospec stock traded up $0.46 on Thursday, hitting $86.10. The stock had a trading volume of 155,671 shares, compared to its average volume of 154,964. The company's 50 day moving average price is $89.35 and its 200 day moving average price is $103.06. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 60.63 and a beta of 1.11. Innospec Inc. has a 52-week low of $80.32 and a 52-week high of $133.53.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The business had revenue of $440.80 million during the quarter, compared to analysts' expectations of $466.50 million. During the same period in the prior year, the company earned $1.75 earnings per share. The business's revenue was down 11.9% compared to the same quarter last year. Analysts predict that Innospec Inc. will post 6.18 EPS 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. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.84 per share. This represents a yield of 1.7%. This is a boost from Innospec's previous semi-annual dividend of $0.79. The ex-dividend date of this dividend is Tuesday, May 20th. Innospec's dividend payout ratio (DPR) is presently 155.56%.

Innospec announced that its board has approved a share repurchase plan on Monday, March 10th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows 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 board believes its shares are undervalued.

Innospec Company 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.