Jane Street Group LLC Sells 24,081 Shares of Innospec Inc. (NASDAQ:IOSP)

Jane Street Group LLC cut its stake in Innospec Inc. (NASDAQ:IOSP - Free Report) by 61.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,903 shares of the specialty chemicals company's stock after selling 24,081 shares during the period. Jane Street Group LLC owned 0.06% of Innospec worth $1,685,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in Innospec by 503.9% during the 3rd quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company's stock valued at $96,000 after buying an additional 650 shares during the period. nVerses Capital LLC boosted its stake in Innospec by 200.0% during the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company's stock valued at $102,000 after purchasing an additional 600 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Innospec during the 2nd quarter valued at $184,000. Point72 Asset Management L.P. acquired a new position in shares of Innospec during the 3rd quarter valued at $215,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Innospec in the second quarter valued at $233,000. 96.64% of the stock is currently owned by institutional investors.

Innospec Trading Up 0.2 %

Shares of NASDAQ IOSP traded up $0.27 during midday trading on Thursday, reaching $111.59. The company's stock had a trading volume of 111,325 shares, compared to its average volume of 111,571. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 19.47 and a beta of 1.09. Innospec Inc. has a one year low of $103.97 and a one year high of $133.71. The company has a 50 day moving average price of $115.24 and a 200 day moving average price of $116.49.

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 for the quarter, hitting the consensus estimate of $1.35. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm had revenue of $443.40 million for the quarter, compared to analysts' expectations of $442.13 million. During the same period in the previous year, the company posted $1.59 EPS. The company's quarterly revenue was down 4.5% compared to the same quarter last year. Research analysts anticipate that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

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

Insider Buying and Selling

In other news, Director Milton C. Blackmore sold 1,035 shares of the business's stock in a transaction on 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 owns 9,028 shares in the company, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered Innospec from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 18th.

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.