Hotchkis & Wiley Capital Management LLC Sells 20,390 Shares of Innospec Inc. (NASDAQ:IOSP)

Hotchkis & Wiley Capital Management LLC lessened its stake in shares of Innospec Inc. (NASDAQ:IOSP) by 27.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,605 shares of the specialty chemicals company’s stock after selling 20,390 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.21% of Innospec worth $6,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IOSP. DekaBank Deutsche Girozentrale bought a new stake in shares of Innospec in the 1st quarter worth $66,000. CWM LLC boosted 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 worth $78,000 after buying an additional 448 shares during the last quarter. Blue Trust Inc. boosted its stake 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 buying an additional 650 shares during the last quarter. nVerses Capital LLC boosted its stake 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 buying an additional 600 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Innospec in the 2nd quarter worth $184,000. Institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

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

Innospec Trading Down 1.5 %

Shares of IOSP stock opened at $117.14 on Friday. The stock’s 50-day moving average price is $115.03 and its 200-day moving average price is $118.08. Innospec Inc. has a 12-month low of $103.97 and a 12-month high of $133.71. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 20.44 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, hitting the consensus estimate of $1.35. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The company had revenue of $443.40 million for the quarter, compared to analysts’ expectations of $442.13 million. During the same period in the previous year, the firm posted $1.59 earnings per share. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, research analysts predict that Innospec Inc. will post 5.88 EPS for the current fiscal year.

Innospec Increases Dividend

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

Insider Activity

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. Insiders own 1.52% of the company’s stock.

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.