Two Sigma Investments LP Lowers Position in Innospec Inc. (NASDAQ:IOSP)

Two Sigma Investments LP decreased its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 48.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,170 shares of the specialty chemicals company's stock after selling 12,425 shares during the quarter. Two Sigma Investments LP owned about 0.05% of Innospec worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Innospec by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 237,616 shares of the specialty chemicals company's stock valued at $26,152,000 after acquiring an additional 2,633 shares during the period. Barclays PLC increased its holdings 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 purchasing an additional 34,811 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Innospec by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 129,448 shares of the specialty chemicals company's stock worth $14,247,000 after purchasing an additional 4,376 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Innospec by 14.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,554 shares of the specialty chemicals company's stock worth $3,033,000 after purchasing an additional 3,578 shares during the period. Finally, Blue Trust Inc. increased its holdings 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 purchasing an additional 422 shares during the period. Institutional investors own 96.64% of the company's stock.

Innospec Stock Performance

IOSP traded up $0.84 during trading on Friday, reaching $86.13. The stock had a trading volume of 209,402 shares, compared to its average volume of 155,778. The stock has a market cap of $2.15 billion, a PE ratio of 60.65 and a beta of 1.06. 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 of $88.09 and a 200-day moving average of $101.54.

Innospec (NASDAQ:IOSP - Get Free Report) last released 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 return on equity of 12.27% and a net margin of 1.93%. The business had revenue of $440.80 million for the quarter, compared to analysts' expectations of $466.50 million. During the same quarter in the prior year, the firm earned $1.75 earnings per share. The firm's revenue was down 11.9% on a year-over-year basis. Equities research analysts forecast that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were given 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 was Tuesday, May 20th. Innospec's dividend payout ratio is presently 155.56%.

Innospec announced that its board has authorized a share buyback 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 purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

IOSP has been the topic of a number of research analyst reports. Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Seaport Res Ptn raised 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 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 completion of the sale, the director now directly owns 5,497 shares in the company, valued at approximately $498,193.11. This represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.31% of the company's stock.

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.