Y Intercept Hong Kong Ltd Sells 11,093 Shares of Innospec Inc. $IOSP

Y Intercept Hong Kong Ltd lowered its stake in Innospec Inc. (NASDAQ:IOSP) by 26.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,152 shares of the specialty chemicals company’s stock after selling 11,093 shares during the period. Y Intercept Hong Kong Ltd owned 0.12% of Innospec worth $2,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Innospec by 3.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,483,185 shares of the specialty chemicals company’s stock worth $216,211,000 after purchasing an additional 78,360 shares during the period. Geode Capital Management LLC raised its stake in Innospec by 2.1% in the second quarter. Geode Capital Management LLC now owns 719,598 shares of the specialty chemicals company’s stock worth $60,517,000 after buying an additional 14,463 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Innospec by 29.5% in the second quarter. Brown Advisory Inc. now owns 426,544 shares of the specialty chemicals company’s stock worth $35,868,000 after buying an additional 97,129 shares during the period. Westwood Holdings Group Inc. boosted its position in Innospec by 7.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 412,310 shares of the specialty chemicals company’s stock valued at $34,671,000 after acquiring an additional 29,900 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Innospec by 17.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 321,164 shares of the specialty chemicals company’s stock valued at $27,007,000 after acquiring an additional 48,152 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Leslie J. Parrette bought 340 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was acquired at an average cost of $74.09 per share, with a total value of $25,190.60. Following the completion of the acquisition, the director owned 5,837 shares of the company’s stock, valued at approximately $432,463.33. This represents a 6.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IOSP. Zacks Research raised Innospec from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Innospec in a research report on Monday, December 22nd. One research 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, Innospec currently has an average rating of “Reduce”.

Innospec Stock Down 0.3%

IOSP stock opened at $79.26 on Thursday. The business has a 50 day moving average of $77.60 and a 200 day moving average of $79.05. The firm has a market cap of $1.96 billion, a PE ratio of -2,642.00 and a beta of 0.91. Innospec Inc. has a twelve month low of $70.10 and a twelve month high of $116.95.

Innospec (NASDAQ:IOSP) last released its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. Innospec had a positive return on equity of 10.28% and a negative net margin of 0.07%.The firm had revenue of $441.90 million for the quarter, compared to analysts’ expectations of $443.00 million. During the same period in the prior year, the firm posted $1.35 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, research analysts expect that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were paid a dividend of $0.87 per share. This represents a yield of 245.0%. The ex-dividend date was Tuesday, November 18th. Innospec’s dividend payout ratio (DPR) is currently -5,800.00%.

About Innospec

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.