Two Sigma Advisers LP Raises Position in Innospec Inc. (NASDAQ:IOSP)

Two Sigma Advisers LP increased its stake in Innospec Inc. (NASDAQ:IOSP) by 48.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,100 shares of the specialty chemicals company’s stock after purchasing an additional 3,300 shares during the quarter. Two Sigma Advisers LP’s holdings in Innospec were worth $1,112,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Innospec in the fourth quarter worth $20,992,000. Norges Bank bought a new position in shares of Innospec during the 4th quarter worth $11,312,000. JPMorgan Chase & Co. increased its holdings in Innospec by 17.3% in the 4th quarter. JPMorgan Chase & Co. now owns 312,880 shares of the specialty chemicals company’s stock worth $34,436,000 after acquiring an additional 46,192 shares during the last quarter. Barclays PLC raised its stake in Innospec by 357.1% in the 3rd quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company’s stock valued at $5,039,000 after acquiring an additional 34,811 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in Innospec in the 4th quarter valued at about $2,931,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Insider Activity at Innospec

In related news, Director Leslie J. Parrette sold 446 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $90.63, for a total value of $40,420.98. Following the sale, the director now owns 5,497 shares in the company, valued at approximately $498,193.11. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.31% of the stock is owned by corporate insiders.

Innospec Stock Performance

Shares of NASDAQ IOSP opened at $85.33 on Friday. The stock has a market cap of $2.13 billion, a PE ratio of 60.09 and a beta of 1.11. Innospec Inc. has a fifty-two week low of $80.32 and a fifty-two week high of $133.53. The stock has a fifty day moving average of $89.11 and a 200-day moving average of $102.67.

Innospec (NASDAQ:IOSP) last issued its earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. The business had revenue of $440.80 million during the quarter, compared to the consensus estimate of $466.50 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The firm’s revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 EPS. On average, sell-side analysts predict that Innospec Inc. will post 6.18 EPS for the current year.

Innospec announced that its Board of Directors has initiated a share buyback plan on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Innospec Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th were given a $0.84 dividend. This is a positive change from Innospec’s previous semi-annual dividend of $0.79. This represents a dividend yield of 1.7%. The ex-dividend date was Tuesday, May 20th. Innospec’s dividend payout ratio (DPR) is 155.56%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IOSP shares. Wall Street Zen downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Seaport Res Ptn raised shares of Innospec from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st.

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.