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

Entropy Technologies LP cut its stake in Innospec Inc. (NASDAQ:IOSP) by 27.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,879 shares of the specialty chemicals company’s stock after selling 1,100 shares during the period. Entropy Technologies LP’s holdings in Innospec were worth $326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in Innospec during the first quarter worth about $66,000. CWM LLC lifted its position in shares of Innospec by 239.6% in the 2nd quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock worth $78,000 after acquiring an additional 448 shares during the period. Blue Trust Inc. lifted 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 acquiring an additional 650 shares during the period. nVerses Capital LLC grew its holdings in shares of Innospec by 200.0% during the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 600 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Innospec during the first quarter valued at approximately $147,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Stock Performance

Shares of Innospec stock opened at $119.03 on Friday. The firm has a market cap of $2.97 billion, a P/E ratio of 20.77 and a beta of 1.08. The firm’s 50-day simple moving average is $112.76 and its 200-day simple moving average is $118.84. Innospec Inc. has a twelve month low of $103.97 and a twelve month high of $133.71.

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

Innospec Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is 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 presently 27.57%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Insider Activity

In other news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total value of $127,222.20. Following the completion of the transaction, the director now owns 9,028 shares in the company, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ian Cleminson sold 6,602 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $113.60, for a total value of $749,987.20. Following the sale, the chief financial officer now owns 16,394 shares in the company, valued at approximately $1,862,358.40. This trade represents a 28.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,035 shares of company stock worth $1,267,096. Corporate insiders own 1.52% of the company’s stock.

Innospec 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.