BNP Paribas Financial Markets Cuts Position in Innospec Inc. (NASDAQ:IOSP)

BNP Paribas Financial Markets decreased its stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 36.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,798 shares of the specialty chemicals company's stock after selling 6,693 shares during the period. BNP Paribas Financial Markets' holdings in Innospec were worth $1,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC boosted its holdings in Innospec by 239.6% in the second quarter. CWM LLC now owns 635 shares of the specialty chemicals company's stock worth $78,000 after acquiring an additional 448 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Innospec by 503.9% during the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company's stock valued at $96,000 after purchasing an additional 650 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Innospec by 200.0% during the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company's stock valued at $102,000 after buying an additional 600 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Innospec in the 2nd quarter worth about $184,000. Finally, Sanctuary Advisors LLC purchased a new position in Innospec in the 2nd quarter worth about $233,000. Hedge funds and other institutional investors own 96.64% of the company's stock.

Insider Activity at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.35% of the stock is owned by company insiders.

Innospec Trading Down 0.2 %

IOSP stock traded down $0.25 on Tuesday, hitting $116.31. The company had a trading volume of 94,187 shares, compared to its average volume of 108,842. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 20.30 and a beta of 1.09. The stock's 50-day simple moving average is $115.23 and its 200 day simple moving average is $117.64. Innospec Inc. has a 12-month low of $103.97 and a 12-month high of $133.71.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.35. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The company had revenue of $443.40 million for the quarter, compared to the consensus estimate of $442.13 million. During the same quarter last year, the firm posted $1.59 earnings per share. The firm's revenue was down 4.5% compared to the same quarter last year. Research analysts forecast that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were issued a $0.79 dividend. This is a boost from Innospec's previous Semi-Annual dividend of $0.72. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, November 18th. Innospec's dividend payout ratio (DPR) is currently 27.57%.

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.