Janus Henderson Group PLC Has $51.50 Million Stock Position in Innospec Inc. (NASDAQ:IOSP)

Janus Henderson Group PLC boosted its position in Innospec Inc. (NASDAQ:IOSP) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 467,938 shares of the specialty chemicals company’s stock after purchasing an additional 4,527 shares during the period. Janus Henderson Group PLC’s holdings in Innospec were worth $51,502,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in Innospec by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 237,616 shares of the specialty chemicals company’s stock worth $26,152,000 after acquiring an additional 2,633 shares during the last quarter. Barclays PLC lifted its position in Innospec by 357.1% during the third quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company’s stock worth $5,039,000 after acquiring an additional 34,811 shares during the last quarter. Principal Financial Group Inc. lifted its position in Innospec by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 129,448 shares of the specialty chemicals company’s stock worth $14,247,000 after acquiring an additional 4,376 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Innospec by 14.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,554 shares of the specialty chemicals company’s stock worth $3,033,000 after acquiring an additional 3,578 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in Innospec by 1.4% during the fourth quarter. New York State Teachers Retirement System now owns 14,981 shares of the specialty chemicals company’s stock worth $1,649,000 after acquiring an additional 200 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Innospec news, SVP Corbin Barnes sold 2,692 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $278,083.60. Following the completion of the transaction, the senior vice president now directly owns 8,051 shares in the company, valued at $831,668.30. The trade was a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Philip John Boon sold 3,754 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $387,788.20. Following the transaction, the vice president now owns 20,079 shares of the company’s stock, valued at approximately $2,074,160.70. This represents a 15.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,696 shares of company stock worth $794,853. Corporate insiders own 1.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IOSP. StockNews.com downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Seaport Res Ptn upgraded shares of Innospec from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st.

Innospec Trading Down 0.3%

NASDAQ IOSP opened at $90.45 on Wednesday. Innospec Inc. has a 1-year low of $80.32 and a 1-year high of $133.59. The company has a 50 day moving average of $92.05 and a 200-day moving average of $105.24. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 63.70 and a beta of 1.11.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The company had revenue of $440.80 million during the quarter, compared to the consensus estimate of $466.50 million. During the same period in the previous year, the business earned $1.75 earnings per share. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. On average, equities research analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec declared that its Board of Directors has approved a stock repurchase plan on Monday, March 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the specialty chemicals company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Innospec Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th will be given a $0.84 dividend. This represents a dividend yield of 1.7%. This is an increase from Innospec’s previous semi-annual dividend of $0.79. The ex-dividend date is Tuesday, May 20th. Innospec’s payout ratio is presently 155.56%.

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.