Innospec Inc. (NASDAQ:IOSP) Shares Sold by Jane Street Group LLC

Jane Street Group LLC reduced its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 61.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,903 shares of the specialty chemicals company’s stock after selling 24,081 shares during the period. Jane Street Group LLC’s holdings in Innospec were worth $1,685,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of IOSP. Bank of New York Mellon Corp increased its position in Innospec by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 258,294 shares of the specialty chemicals company’s stock worth $31,923,000 after buying an additional 6,148 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Innospec by 9.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,925 shares of the specialty chemicals company’s stock valued at $732,000 after purchasing an additional 502 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Innospec by 60.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 77,389 shares of the specialty chemicals company’s stock valued at $9,565,000 after purchasing an additional 29,045 shares in the last quarter. Ingalls & Snyder LLC acquired a new stake in shares of Innospec during the 2nd quarter worth about $3,534,000. Finally, TD Asset Management Inc grew its holdings in shares of Innospec by 58.9% during the second quarter. TD Asset Management Inc now owns 17,000 shares of the specialty chemicals company’s stock worth $2,101,000 after buying an additional 6,300 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the completion of the sale, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This represents a 10.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.52% of the stock is currently owned by company insiders.

Innospec Stock Up 1.8 %

IOSP stock opened at $111.32 on Thursday. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 19.43 and a beta of 1.09. Innospec Inc. has a 52-week low of $103.97 and a 52-week high of $133.71. The stock’s fifty day simple moving average is $115.34 and its 200-day simple moving average is $116.53.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.35. The firm 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%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the company earned $1.59 EPS. As a group, analysts anticipate that Innospec Inc. will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

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

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th.

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.