Cubist Systematic Strategies LLC Purchases 25,533 Shares of Innospec Inc. (NASDAQ:IOSP)

Cubist Systematic Strategies LLC boosted its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 141.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,647 shares of the specialty chemicals company’s stock after acquiring an additional 25,533 shares during the period. Cubist Systematic Strategies LLC owned about 0.18% of Innospec worth $4,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in IOSP. Pacer Advisors Inc. bought a new position in shares of Innospec during the fourth quarter valued at approximately $53,457,000. Raymond James Financial Inc. bought a new stake in Innospec during the 4th quarter valued at $20,992,000. Norges Bank purchased a new position in shares of Innospec in the 4th quarter valued at $11,312,000. JPMorgan Chase & Co. raised its position in shares of Innospec by 17.3% in the 4th quarter. JPMorgan Chase & Co. now owns 312,880 shares of the specialty chemicals company’s stock worth $34,436,000 after acquiring an additional 46,192 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Innospec by 357.1% during the 3rd quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company’s stock worth $5,039,000 after purchasing an additional 34,811 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Price Performance

Shares of IOSP stock opened at $90.47 on Friday. The stock’s fifty day moving average price is $92.38 and its 200 day moving average price is $105.52. Innospec Inc. has a 1-year low of $80.32 and a 1-year high of $133.71. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 63.71 and a beta of 1.11.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Thursday, May 8th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.02. The firm had revenue of $440.80 million for the quarter, compared to the consensus estimate of $466.50 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 earnings per share. As a group, equities research analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec announced that its board has authorized a share buyback program on Monday, March 10th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Innospec Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, May 20th. This represents a dividend yield of 1.7%. This is a boost from Innospec’s previous semi-annual dividend of $0.79. Innospec’s dividend payout ratio (DPR) is currently 111.27%.

Insider Transactions at Innospec

In related news, Director Milton C. Blackmore sold 652 shares of Innospec stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $67,351.60. Following the completion of the sale, the director now owns 8,376 shares of the company’s stock, valued at $865,240.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Philip John Boon sold 3,754 shares of the company’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 value of $387,788.20. Following the completion of the sale, the vice president now owns 20,079 shares in the company, valued at approximately $2,074,160.70. This represents a 15.75 % decrease in their position. 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. Company insiders own 1.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IOSP. Seaport Res Ptn upgraded shares of Innospec from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st. StockNews.com downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.