BNP Paribas Financial Markets Sells 7,558 Shares of Innospec Inc. (NASDAQ:IOSP)

BNP Paribas Financial Markets lowered its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 64.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Innospec during the 4th quarter worth approximately $106,000. Covestor Ltd grew its stake 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 purchasing an additional 118 shares during the period. KBC Group NV increased its position in shares of Innospec by 82.3% during the 4th quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company's stock valued at $136,000 after purchasing an additional 558 shares during the last quarter. Blue Trust Inc. grew its position in 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 buying an additional 422 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Innospec by 91.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company's stock worth $198,000 after acquiring an additional 863 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Price Performance

Shares of IOSP traded up $0.27 during trading hours on Thursday, hitting $85.91. The company's stock had a trading volume of 6,436 shares, compared to its average volume of 154,178. The business has a 50 day simple moving average of $89.59 and a two-hundred day simple moving average of $103.32. Innospec Inc. has a 52-week low of $80.32 and a 52-week high of $133.53. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 60.50 and a beta of 1.11.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. The business had revenue of $440.80 million during the quarter, compared to analyst estimates of $466.50 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. Innospec's revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 EPS. Research analysts predict that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Innospec Increases Dividend

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

Insider Activity

In other Innospec news, Director Leslie J. Parrette sold 446 shares of the company's stock in a transaction dated 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 in the company, valued at $498,193.11. This represents a 7.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in 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 upgraded Innospec from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st.

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.