Y Intercept Hong Kong Ltd Makes New Investment in Innospec Inc. (NASDAQ:IOSP)

Y Intercept Hong Kong Ltd acquired a new stake in Innospec Inc. (NASDAQ:IOSP - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,647 shares of the specialty chemicals company's stock, valued at approximately $1,204,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CWM LLC increased its stake in Innospec by 239.6% in the second quarter. CWM LLC now owns 635 shares of the specialty chemicals company's stock valued at $78,000 after purchasing an additional 448 shares during the last quarter. Blue Trust Inc. grew its position in shares of Innospec by 503.9% in 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 last quarter. nVerses Capital LLC raised 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 worth $102,000 after acquiring an additional 600 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Innospec in the second quarter valued at $184,000. Finally, Point72 Asset Management L.P. purchased a new stake in Innospec in the third quarter valued at $215,000. Institutional investors and hedge funds own 96.64% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Innospec from a "buy" rating to a "strong-buy" rating in a research report on Tuesday.

Innospec Stock Performance

NASDAQ IOSP traded down $0.98 on Thursday, reaching $115.74. The stock had a trading volume of 70,005 shares, compared to its average volume of 108,584. The stock has a market cap of $2.89 billion, a P/E ratio of 20.37 and a beta of 1.09. Innospec Inc. has a 12-month low of $103.97 and a 12-month high of $133.71. The business's 50-day moving average price is $115.33 and its 200 day moving average price is $117.64.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. The firm had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. Innospec's revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 EPS. On average, sell-side analysts predict that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

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

Insider Buying and Selling at Innospec

In other Innospec 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 transaction, the director now directly owns 9,028 shares of the company's stock, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by company insiders.

Innospec Company Profile

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.