Two Sigma Advisers LP Purchases 3,300 Shares of Innospec Inc. (NASDAQ:IOSP)

Two Sigma Advisers LP lifted its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 48.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,100 shares of the specialty chemicals company's stock after buying an additional 3,300 shares during the period. Two Sigma Advisers LP's holdings in Innospec were worth $1,112,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Innospec in the fourth quarter valued at approximately $106,000. Covestor Ltd raised its holdings in Innospec by 13.9% in the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company's stock worth $106,000 after acquiring an additional 118 shares during the period. Blue Trust Inc. grew its stake in shares of Innospec by 54.2% in the fourth quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company's stock worth $136,000 after acquiring an additional 422 shares during the last quarter. KBC Group NV grew its position 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 last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Innospec by 91.9% in the 4th 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. Institutional investors own 96.64% of the company's stock.

Innospec Stock Down 0.6%

Shares of NASDAQ IOSP traded down $0.54 during trading hours on Wednesday, hitting $86.16. The company had a trading volume of 102,490 shares, compared to its average volume of 154,927. The stock has a market capitalization of $2.15 billion, a P/E ratio of 60.68 and a beta of 1.11. The firm's 50 day moving average is $88.45 and its 200-day moving average is $102.08. 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 issued its quarterly earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. The company had revenue of $440.80 million for 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%. Innospec's revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.75 earnings per share. On average, sell-side analysts predict that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec announced that its board has authorized a share buyback program on Monday, March 10th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the specialty chemicals company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Innospec Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th were paid a $0.84 dividend. The ex-dividend date was Tuesday, May 20th. This is an increase from Innospec's previous semi-annual dividend of $0.79. This represents a dividend yield of 1.7%. Innospec's dividend payout ratio (DPR) is currently 155.56%.

Insider Activity at Innospec

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 transaction, the director now directly owns 5,497 shares of the company's stock, 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 can be accessed through this hyperlink. 1.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IOSP has been the topic of several recent analyst reports. 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 shares of Innospec from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th.

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.