Innospec Inc. (NASDAQ:IOSP) Shares Sold by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP decreased its position in Innospec Inc. (NASDAQ:IOSP) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,763 shares of the specialty chemicals company’s stock after selling 548 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Innospec were worth $524,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in IOSP. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Innospec in the 4th quarter valued at approximately $106,000. Covestor Ltd increased its holdings in Innospec by 13.9% in the fourth quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 118 shares during the last quarter. KBC Group NV raised its stake in Innospec by 82.3% in 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 in the last quarter. Blue Trust Inc. lifted its holdings in Innospec by 54.2% during the 4th 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. Finally, Smartleaf Asset Management LLC lifted its holdings in Innospec by 91.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock worth $198,000 after buying an additional 863 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Price Performance

NASDAQ IOSP opened at $87.78 on Thursday. The firm’s fifty day moving average price is $91.80 and its 200 day moving average price is $105.12. Innospec Inc. has a 12 month low of $80.32 and a 12 month high of $133.59. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 61.82 and a beta of 1.11.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.02. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The company had revenue of $440.80 million for the quarter, compared to analyst estimates of $466.50 million. During the same quarter last year, the company posted $1.75 earnings per share. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec Increases Dividend

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

Innospec declared that its board has authorized a share repurchase plan on Monday, March 10th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Seaport Res Ptn upgraded Innospec from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st. StockNews.com downgraded Innospec from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th.

Insiders Place Their Bets

In related news, SVP Corbin Barnes sold 598 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $103.06, for a total value of $61,629.88. Following the transaction, the senior vice president now owns 8,051 shares in the company, valued at $829,736.06. The trade was a 6.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Philip John Boon sold 3,754 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $387,788.20. Following the sale, the vice president now directly owns 20,079 shares of the company’s stock, valued at approximately $2,074,160.70. This represents a 15.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,696 shares of company stock valued at $794,853 over the last quarter. Company insiders own 1.31% 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.