Entropy Technologies LP Has $326,000 Stock Position in Innospec Inc. (NASDAQ:IOSP)

Entropy Technologies LP lessened its position in shares of Innospec Inc. (NASDAQ:IOSP) by 27.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,879 shares of the specialty chemicals company’s stock after selling 1,100 shares during the quarter. Entropy Technologies LP’s holdings in Innospec were worth $326,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in Innospec in the first quarter valued at approximately $66,000. CWM LLC lifted its stake in shares of 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. boosted its position in shares of Innospec by 503.9% in the 3rd quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock worth $96,000 after purchasing an additional 650 shares during the last quarter. nVerses Capital LLC grew its stake 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 purchasing an additional 600 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in Innospec in the first quarter valued at about $147,000. Institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Innospec Stock Performance

Shares of NASDAQ IOSP opened at $119.03 on Friday. Innospec Inc. has a 52-week low of $103.97 and a 52-week high of $133.71. The stock has a market cap of $2.97 billion, a P/E ratio of 20.77 and a beta of 1.08. The firm has a 50 day moving average price of $112.76 and a 200 day moving average price of $118.84.

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

Innospec Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.79 per share. This represents a dividend yield of 1.3%. The ex-dividend date is Monday, November 18th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s payout ratio is 27.57%.

Insider Activity at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the sale, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $114.74, for a total value of $389,886.52. Following the transaction, the chief financial officer now owns 12,996 shares of the company’s stock, valued at approximately $1,491,161.04. The trade was a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,035 shares of company stock worth $1,267,096. 1.52% of the stock is owned by company insiders.

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.