Innospec Inc. (NASDAQ:IOSP) Short Interest Update

Innospec Inc. (NASDAQ:IOSP - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 240,500 shares, a decrease of 17.9% from the April 30th total of 293,100 shares. Based on an average trading volume of 235,300 shares, the short-interest ratio is currently 1.0 days. Currently, 1.0% of the company's stock are sold short.

Innospec Trading Down 0.6%

IOSP traded down $0.54 during trading on Wednesday, hitting $86.16. 102,490 shares of the company's stock traded hands, compared to its average volume of 154,927. Innospec has a 12-month low of $80.32 and a 12-month high of $133.53. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 60.68 and a beta of 1.11. The company's 50 day simple moving average is $88.63 and its two-hundred day simple moving average is $102.19.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $466.50 million. During the same quarter in the prior year, the business earned $1.75 EPS. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities analysts expect that Innospec will post 6.18 EPS for the current year.

Innospec announced that its Board of Directors has approved a stock 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 reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Innospec Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.84 per share. The ex-dividend date was Tuesday, May 20th. This is a positive change from Innospec's previous semi-annual dividend of $0.79. This represents a yield of 1.7%. Innospec's payout ratio is currently 155.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IOSP shares. Seaport Res Ptn raised Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Wall Street Zen cut shares of Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th.

Insiders Place Their Bets

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

Institutional Trading of Innospec

Several large investors have recently modified their holdings of IOSP. Barclays PLC grew its stake in shares of Innospec by 357.1% during the 3rd quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company's stock valued at $5,039,000 after purchasing an additional 34,811 shares during the period. Blue Trust Inc. boosted 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 buying an additional 422 shares during the last quarter. KBC Group NV grew its position in Innospec by 82.3% during the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company's stock valued at $136,000 after buying an additional 558 shares during the period. New York State Teachers Retirement System increased its holdings 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 valued at $1,649,000 after buying an additional 200 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in Innospec by 3.3% in 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 acquiring an additional 580 shares during the period. Institutional investors own 96.64% of the company's stock.

About Innospec

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.