Innospec Inc. (NASDAQ:IOSP) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 7,113.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,542 shares of the specialty chemicals company's stock after purchasing an additional 33,077 shares during the period. GAMMA Investing LLC owned about 0.13% of Innospec worth $31,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Innospec by 357.1% in the third quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company's stock worth $5,039,000 after acquiring an additional 34,811 shares during the period. Blue Trust Inc. increased its stake in shares of Innospec by 54.2% in 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 raised its holdings in 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 period. New York State Teachers Retirement System boosted its position in Innospec by 1.4% during the fourth quarter. New York State Teachers Retirement System now owns 14,981 shares of the specialty chemicals company's stock worth $1,649,000 after purchasing an additional 200 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in Innospec by 3.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 17,989 shares of the specialty chemicals company's stock worth $1,980,000 after purchasing an additional 580 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Stock Up 1.0%

Shares of IOSP traded up $0.84 during midday trading on Friday, reaching $86.13. The company had a trading volume of 209,402 shares, compared to its average volume of 156,093. Innospec Inc. has a 1-year low of $80.32 and a 1-year high of $133.53. The firm has a 50 day simple moving average of $88.09 and a 200-day simple moving average of $101.42. The stock has a market cap of $2.15 billion, a PE ratio of 60.65 and a beta of 1.06.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (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 firm had revenue of $440.80 million during the quarter, compared to analyst estimates of $466.50 million. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Innospec's quarterly revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec declared that its Board of Directors has approved 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 repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Innospec Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.84 per share. The ex-dividend date 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 (DPR) is currently 155.56%.

Insider Activity

In related 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 value of $40,420.98. Following the sale, the director now directly owns 5,497 shares in the company, valued at approximately $498,193.11. The trade was a 7.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.31% of the company's stock.

Wall Street Analysts Forecast Growth

IOSP has been the subject of a number of recent analyst reports. Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Seaport Res Ptn upgraded Innospec from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st.

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.