Point72 DIFC Ltd Sells 461 Shares of Innospec Inc. (NASDAQ:IOSP)

Point72 DIFC Ltd cut its holdings in Innospec Inc. (NASDAQ:IOSP) by 31.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,025 shares of the specialty chemicals company’s stock after selling 461 shares during the period. Point72 DIFC Ltd’s holdings in Innospec were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. CWM LLC raised its holdings in Innospec by 239.6% during the 2nd quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock valued at $78,000 after buying an additional 448 shares during the period. Blue Trust Inc. raised 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 acquiring an additional 650 shares during the period. nVerses Capital LLC lifted its holdings in shares of Innospec by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 600 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Innospec during the 3rd quarter worth about $215,000. Finally, Sanctuary Advisors LLC bought a new position in Innospec during the 2nd quarter valued at about $233,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.52% of the company’s stock.

Innospec Price Performance

Innospec stock opened at $116.16 on Monday. Innospec Inc. has a 1-year low of $103.97 and a 1-year high of $133.71. The company’s 50-day moving average is $115.08 and its 200 day moving average is $117.82. The firm has a market capitalization of $2.90 billion, a P/E ratio of 20.27 and a beta of 1.09.

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 during 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%. Innospec’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.59 EPS. Research 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. Stockholders of record on Monday, November 18th were paid a dividend of $0.79 per share. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 18th. Innospec’s payout ratio is currently 27.57%.

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.