UBS Group AG Sells 22,992 Shares of Innospec Inc. $IOSP

Key Points

• UBS Group AG reduced its Innospec stake by 13.9% in the fourth quarter, selling 22,992 shares and ending with 142,055 shares valued at about $10.9 million.
• Innospec reported better-than-expected quarterly results, with EPS of $1.05 versus the $1.02 estimate and revenue of $453.2 million, above analyst expectations.
• Analyst sentiment has turned cautious, with recent rating cuts leaving the stock at an average “Reduce” rating, even as the company announced a $0.92 per share dividend payable May 29.

UBS Group AG cut its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,055 shares of the specialty chemicals company's stock after selling 22,992 shares during the quarter. UBS Group AG owned about 0.57% of Innospec worth $10,873,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IOSP. Medina Value Partners LLC purchased a new position in shares of Innospec in the third quarter valued at $18,206,000. Millennium Management LLC grew its position in shares of Innospec by 8,176.5% in the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company's stock valued at $16,147,000 after purchasing an additional 168,355 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of Innospec by 72.1% in the second quarter. Qube Research & Technologies Ltd now owns 306,761 shares of the specialty chemicals company's stock valued at $25,796,000 after purchasing an additional 128,544 shares in the last quarter. Jane Street Group LLC grew its position in shares of Innospec by 1,551.5% in the first quarter. Jane Street Group LLC now owns 95,243 shares of the specialty chemicals company's stock valued at $9,024,000 after purchasing an additional 89,476 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Innospec by 68.0% in the second quarter. Cubist Systematic Strategies LLC now owns 219,088 shares of the specialty chemicals company's stock valued at $18,423,000 after purchasing an additional 88,661 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP David B. Jones sold 1,028 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $75.64, for a total transaction of $77,757.92. Following the completion of the transaction, the senior vice president directly owned 14,693 shares in the company, valued at $1,111,378.52. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larry Padfield sold 1,030 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $81.84, for a total value of $84,295.20. Following the transaction, the director owned 8,508 shares of the company's stock, valued at approximately $696,294.72. The trade was a 10.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,989 shares of company stock valued at $391,889 in the last ninety days. Corporate insiders own 1.45% of the company's stock.

Innospec Stock Performance

Shares of NASDAQ IOSP opened at $78.15 on Friday. The stock has a market cap of $1.92 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. Innospec Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $92.14. The stock has a fifty day moving average of $73.99 and a 200-day moving average of $76.77.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.03. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The company had revenue of $453.20 million during the quarter, compared to analysts' expectations of $432.14 million. During the same period in the previous year, the business earned $1.42 earnings per share. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts predict that Innospec Inc. will post 4.8 EPS for the current year.

Innospec Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be given a dividend of $0.92 per share. This represents a yield of 240.0%. The ex-dividend date is Tuesday, May 19th. Innospec's payout ratio is presently 37.91%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IOSP. Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings cut Innospec from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday. Finally, Zacks Research upgraded Innospec from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce".

Innospec Profile

Innospec Incorporated NASDAQ: IOSP is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

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