Hardy Louis Griffin III Sells 161 Shares of Innospec Inc. (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) SVP Hardy Louis Griffin III sold 161 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $117.52, for a total value of $18,920.72. Following the completion of the sale, the senior vice president now owns 4,523 shares in the company, valued at $531,542.96. The trade was a 3.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Innospec Price Performance

Shares of NASDAQ:IOSP opened at $113.35 on Friday. The company’s 50-day moving average price is $113.32 and its two-hundred day moving average price is $114.33. Innospec Inc. has a one year low of $103.65 and a one year high of $133.71. The stock has a market capitalization of $2.83 billion, a PE ratio of 19.78 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. The business had revenue of $443.40 million for the quarter, compared to analyst estimates of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. Innospec’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 earnings per share. On average, analysts anticipate that Innospec Inc. will post 5.87 earnings per share for the current fiscal year.

Innospec Increases Dividend

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

Hedge Funds Weigh In On Innospec

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in shares of Innospec in the 2nd quarter valued at about $1,137,000. Marshall Wace LLP bought a new position in Innospec during the second quarter worth about $4,943,000. AQR Capital Management LLC grew its holdings in Innospec by 51.9% during the second quarter. AQR Capital Management LLC now owns 24,232 shares of the specialty chemicals company’s stock worth $2,995,000 after purchasing an additional 8,276 shares during the period. The Manufacturers Life Insurance Company increased its position in Innospec by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 13,892 shares of the specialty chemicals company’s stock worth $1,717,000 after buying an additional 522 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Innospec by 12.1% in the second quarter. Mackenzie Financial Corp now owns 3,391 shares of the specialty chemicals company’s stock valued at $419,000 after buying an additional 367 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th.

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.