First Hawaiian Bank Sells 891 Shares of Innospec Inc. (NASDAQ:IOSP)

First Hawaiian Bank lessened its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 11.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,573 shares of the specialty chemicals company’s stock after selling 891 shares during the quarter. First Hawaiian Bank’s holdings in Innospec were worth $848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IOSP. Norges Bank bought a new stake in shares of Innospec in the 4th quarter worth $25,925,000. UBS Group AG grew its stake in shares of Innospec by 204,935.7% in the 4th quarter. UBS Group AG now owns 57,410 shares of the specialty chemicals company’s stock worth $7,075,000 after acquiring an additional 57,382 shares in the last quarter. Evoke Wealth LLC bought a new stake in shares of Innospec in the 4th quarter worth $3,866,000. GSA Capital Partners LLP bought a new stake in shares of Innospec in the 3rd quarter worth $1,978,000. Finally, Acadian Asset Management LLC grew its stake in shares of Innospec by 19.7% in the 3rd quarter. Acadian Asset Management LLC now owns 111,652 shares of the specialty chemicals company’s stock worth $11,393,000 after acquiring an additional 18,371 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Innospec from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th.

Insider Buying and Selling

In related news, SVP Hardy Louis Griffin III sold 525 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $129.78, for a total value of $68,134.50. Following the transaction, the senior vice president now directly owns 4,523 shares of the company’s stock, valued at approximately $586,994.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is owned by insiders.

Innospec Stock Performance

Shares of NASDAQ:IOSP opened at $121.98 on Friday. The company’s 50-day moving average is $125.50 and its 200 day moving average is $122.56. The company has a market capitalization of $3.04 billion, a P/E ratio of 20.71 and a beta of 1.14. Innospec Inc. has a fifty-two week low of $95.69 and a fifty-two week high of $133.71.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Thursday, May 9th. The specialty chemicals company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The company had revenue of $500.20 million for the quarter, compared to the consensus estimate of $508.15 million. Innospec had a net margin of 7.60% and a return on equity of 14.22%. As a group, research analysts predict that Innospec Inc. will post 6.7 earnings per share for the current year.

Innospec Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were issued a $0.72 dividend. This represents a dividend yield of 1.2%. The ex-dividend date was Friday, May 17th. Innospec’s dividend payout ratio (DPR) is currently 25.81%.

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.