Hotchkis & Wiley Capital Management LLC Reduces Stock Holdings in Innospec Inc. (NASDAQ:IOSP)

Hotchkis & Wiley Capital Management LLC reduced its position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 27.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 53,605 shares of the specialty chemicals company's stock after selling 20,390 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.21% of Innospec worth $6,062,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Innospec in the first quarter valued at $66,000. CWM LLC raised its position in Innospec by 239.6% in the 2nd quarter. CWM LLC now owns 635 shares of the specialty chemicals company's stock worth $78,000 after purchasing an additional 448 shares during the period. Blue Trust Inc. lifted its stake in Innospec by 503.9% in the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company's stock worth $96,000 after purchasing an additional 650 shares during 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 period. Finally, Point72 DIFC Ltd bought a new position in shares of Innospec during the second quarter valued at approximately $184,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Milton C. Blackmore sold 1,035 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total value of $127,222.20. Following the sale, the director now directly owns 9,028 shares in the company, valued at approximately $1,109,721.76. This trade represents a 10.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is currently owned by insiders.

Innospec Stock Performance

Innospec stock traded down $0.98 during trading hours on Friday, hitting $116.16. The company had a trading volume of 70,232 shares, compared to its average volume of 108,932. The firm has a market cap of $2.90 billion, a P/E ratio of 20.44 and a beta of 1.09. The company has a 50-day moving average price of $115.03 and a two-hundred day moving average price of $118.08. Innospec Inc. has a 1 year low of $103.97 and a 1 year high of $133.71.

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

Innospec Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were issued a dividend of $0.79 per share. This represents a yield of 1.3%. This is a positive change from Innospec's previous Semi-Annual dividend of $0.72. The ex-dividend date was Monday, November 18th. Innospec's dividend payout ratio (DPR) is presently 27.57%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Innospec from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th.

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.