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) in the third quarter, Holdings Channel reports. The fund acquired 10,647 shares of the specialty chemicals company’s stock, valued at approximately $1,204,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC grew its position in Innospec by 239.6% in the 2nd 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 period. Blue Trust Inc. lifted its stake in shares of Innospec by 503.9% in the third 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 in the last quarter. nVerses Capital LLC increased its position in shares of Innospec by 200.0% during the third 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 bought a new stake in shares of Innospec during the second quarter worth about $184,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Innospec in the 3rd quarter worth about $215,000. Institutional investors own 96.64% of the company’s stock.

Innospec Trading Up 0.4 %

Shares of Innospec stock opened at $116.72 on Thursday. The company has a market capitalization of $2.91 billion, a P/E ratio of 20.37 and a beta of 1.09. The stock has a fifty day simple moving average of $115.33 and a 200 day simple moving average of $117.64. Innospec Inc. has a 12-month low of $103.97 and a 12-month high of $133.71.

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

Innospec Increases Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

Insider Transactions at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.52% of the company’s stock.

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.