BNP Paribas Arbitrage SA Has $536,000 Stake in Innospec Inc. (IOSP)

BNP Paribas Arbitrage SA reduced its position in shares of Innospec Inc. (NASDAQ:IOSP) by 37.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,817 shares of the specialty chemicals company’s stock after selling 4,656 shares during the period. BNP Paribas Arbitrage SA’s holdings in Innospec were worth $536,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Aperio Group LLC boosted its holdings in shares of Innospec by 10.0% during the first quarter. Aperio Group LLC now owns 8,399 shares of the specialty chemicals company’s stock worth $576,000 after purchasing an additional 761 shares during the period. Comerica Bank boosted its holdings in shares of Innospec by 3.2% during the first quarter. Comerica Bank now owns 25,595 shares of the specialty chemicals company’s stock worth $1,862,000 after purchasing an additional 791 shares during the period. Meadow Creek Investment Management LLC boosted its holdings in shares of Innospec by 29.1% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,724 shares of the specialty chemicals company’s stock worth $263,000 after purchasing an additional 840 shares during the period. Rhumbline Advisers boosted its holdings in shares of Innospec by 1.6% during the first quarter. Rhumbline Advisers now owns 59,547 shares of the specialty chemicals company’s stock worth $4,085,000 after purchasing an additional 922 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Innospec by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 330,123 shares of the specialty chemicals company’s stock worth $23,307,000 after purchasing an additional 1,191 shares during the period. Institutional investors own 91.72% of the company’s stock.

In other Innospec news, Director Milton C. Blackmore sold 444 shares of the firm’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $76.83, for a total value of $34,112.52. Following the completion of the sale, the director now directly owns 6,444 shares in the company, valued at $495,092.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip Curran sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $73.63, for a total transaction of $147,260.00. Following the completion of the sale, the insider now owns 4,218 shares of the company’s stock, valued at $310,571.34. The disclosure for this sale can be found here. Insiders sold 15,841 shares of company stock valued at $1,209,657 over the last 90 days. 2.02% of the stock is currently owned by company insiders.

Several analysts have commented on the stock. BidaskClub upgraded shares of Innospec from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. Zacks Investment Research upgraded shares of Innospec from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Friday, May 18th. ValuEngine upgraded shares of Innospec from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 24th. Finally, Johnson Rice upgraded shares of Innospec from an “accumulate” rating to a “buy” rating in a report on Tuesday, April 24th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $75.00.

Shares of IOSP opened at $79.85 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.24. Innospec Inc. has a one year low of $54.10 and a one year high of $81.05. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.99 and a beta of 1.06.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, May 8th. The specialty chemicals company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.11. Innospec had a net margin of 4.86% and a return on equity of 14.91%. The business had revenue of $360.70 million during the quarter, compared to analyst estimates of $308.90 million. During the same period last year, the business posted $1.00 earnings per share. Innospec’s quarterly revenue was up 22.6% compared to the same quarter last year. sell-side analysts predict that Innospec Inc. will post 4.4 EPS for the current fiscal year.

The business also recently disclosed a semiannual dividend, which was paid on Thursday, May 31st. Shareholders of record on Monday, May 21st were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, May 18th. This is a positive change from Innospec’s previous semiannual dividend of $0.39. This represents a yield of 1.18%. Innospec’s dividend payout ratio (DPR) is 37.77%.

Innospec Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.

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Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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