Y Intercept Hong Kong Ltd Sells 11,093 Shares of Innospec Inc. $IOSP

Y Intercept Hong Kong Ltd decreased its holdings in Innospec Inc. (NASDAQ:IOSP) by 26.9% in the third quarter, Holdings Channel reports. The firm owned 30,152 shares of the specialty chemicals company’s stock after selling 11,093 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Innospec were worth $2,327,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Innospec during the second quarter valued at $28,000. Versant Capital Management Inc lifted its stake in Innospec by 378.1% during the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 431 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 487 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Innospec by 38.3% in the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock worth $57,000 after acquiring an additional 186 shares during the period. Finally, State of Wyoming raised its holdings in shares of Innospec by 27.5% during the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on IOSP shares. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Innospec in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Insider Buying and Selling

In related news, Director Leslie J. Parrette acquired 340 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were purchased at an average price of $74.09 per share, with a total value of $25,190.60. Following the completion of the purchase, the director directly owned 5,837 shares of the company’s stock, valued at $432,463.33. This represents a 6.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.31% of the stock is currently owned by insiders.

Innospec Trading Down 0.3%

IOSP opened at $79.26 on Thursday. Innospec Inc. has a 1-year low of $70.10 and a 1-year high of $116.95. The company has a market capitalization of $1.96 billion, a PE ratio of -2,642.00 and a beta of 0.91. The firm’s 50 day simple moving average is $77.60 and its two-hundred day simple moving average is $79.05.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. The firm had revenue of $441.90 million during the quarter, compared to the consensus estimate of $443.00 million. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.35 EPS. Equities analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were issued a dividend of $0.87 per share. This represents a yield of 245.0%. The ex-dividend date of this dividend was Tuesday, November 18th. Innospec’s payout ratio is currently -5,800.00%.

Innospec Company Profile

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.