Innospec Inc. (NASDAQ:IOSP) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 471,104 shares of the specialty chemicals company's stock after selling 9,954 shares during the quarter. Nuveen Asset Management LLC owned 1.89% of Innospec worth $51,850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of IOSP. Pacer Advisors Inc. purchased a new stake in Innospec in the 4th quarter worth about $53,457,000. Raymond James Financial Inc. bought a new position in Innospec in the 4th quarter valued at $20,992,000. Norges Bank bought a new stake in shares of Innospec during the fourth quarter worth $11,312,000. JPMorgan Chase & Co. lifted its holdings in Innospec by 17.3% during the 4th quarter. JPMorgan Chase & Co. now owns 312,880 shares of the specialty chemicals company's stock valued at $34,436,000 after buying an additional 46,192 shares in the last quarter. Finally, Barclays PLC boosted its position in Innospec by 357.1% in the 3rd quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company's stock valued at $5,039,000 after buying an additional 34,811 shares during the period. Institutional investors own 96.64% of the company's stock.

Insider Buying and Selling

In related news, Director Milton C. Blackmore sold 652 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $67,351.60. Following the sale, the director now owns 8,376 shares of the company's stock, valued at $865,240.80. This trade represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Corbin Barnes sold 2,692 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $278,083.60. Following the completion of the transaction, the senior vice president now owns 8,051 shares of the company's stock, valued at $831,668.30. This represents a 25.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,142 shares of company stock valued at $835,274 over the last 90 days. Corporate insiders own 1.31% of the company's stock.

Innospec Stock Up 0.2%

Shares of IOSP stock traded up $0.19 on Thursday, hitting $86.15. The stock had a trading volume of 191,481 shares, compared to its average volume of 154,091. Innospec Inc. has a one year low of $80.32 and a one year high of $133.53. The business has a 50 day moving average price of $90.79 and a 200 day moving average price of $104.39. The company has a market cap of $2.15 billion, a PE ratio of 60.67 and a beta of 1.11.

Innospec (NASDAQ:IOSP - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $466.50 million. During the same quarter last year, the firm posted $1.75 EPS. The company's revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts expect that Innospec Inc. will post 6.18 EPS for the current year.

Innospec declared that its board has approved a stock repurchase program on Monday, March 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the specialty chemicals company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Innospec Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.84 per share. This represents a yield of 1.7%. This is a positive change from Innospec's previous semi-annual dividend of $0.79. The ex-dividend date is Tuesday, May 20th. Innospec's dividend payout ratio (DPR) is presently 155.56%.

Wall Street Analyst Weigh In

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

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.