Innospec Inc. (NASDAQ:IOSP) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 27.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,425 shares of the specialty chemicals company’s stock after purchasing an additional 525 shares during the quarter. Point72 Asset Management L.P.’s holdings in Innospec were worth $267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake 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 worth $26,152,000 after purchasing an additional 2,633 shares during the last quarter. Barclays PLC boosted its stake in Innospec by 357.1% during the 3rd 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 last quarter. Principal Financial Group Inc. boosted its stake in Innospec by 3.5% during the 4th 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 last quarter. Envestnet Asset Management Inc. boosted its stake in Innospec by 14.9% during the 4th 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 last quarter. Finally, New York State Teachers Retirement System boosted its stake in Innospec by 1.4% during the 4th quarter. New York State Teachers Retirement System now owns 14,981 shares of the specialty chemicals company’s stock worth $1,649,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

IOSP has been the topic of several recent research reports. Seaport Res Ptn raised shares of Innospec from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 21st. Wall Street Zen cut shares of Innospec from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th.

Insider Activity

In related news, SVP Corbin Barnes sold 598 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $103.06, for a total value of $61,629.88. Following the sale, the senior vice president now directly owns 8,051 shares in the company, valued at approximately $829,736.06. The trade was a 6.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $40,420.98. Following the completion of the sale, the director now owns 5,497 shares in the company, valued at approximately $498,193.11. This trade represents a 7.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.

Innospec Trading Down 0.7%

Shares of IOSP stock opened at $85.58 on Friday. The company’s 50-day moving average price is $90.27 and its 200-day moving average price is $104.06. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 60.27 and a beta of 1.11. Innospec Inc. has a twelve month low of $80.32 and a twelve month high of $133.53.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. The firm had revenue of $440.80 million for the quarter, compared to analysts’ expectations of $466.50 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 EPS. As a group, equities research analysts predict that Innospec Inc. will post 6.18 EPS for the current year.

Innospec Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.84 per share. This is a boost from Innospec’s previous semi-annual dividend of $0.79. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a dividend yield of 1.7%. Innospec’s payout ratio is presently 155.56%.

Innospec announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.