Innospec (NASDAQ:IOSP) Cut to Buy at StockNews.com

StockNews.com lowered shares of Innospec (NASDAQ:IOSP) from a strong-buy rating to a buy rating in a research note published on Saturday.

Innospec Stock Up 2.6 %

Shares of NASDAQ IOSP opened at $107.92 on Friday. The company has a market cap of $2.69 billion, a P/E ratio of 18.83 and a beta of 1.09. Innospec has a 52 week low of $103.65 and a 52 week high of $133.71. The business has a 50-day simple moving average of $114.83 and a two-hundred day simple moving average of $115.13.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, meeting analysts’ consensus estimates of $1.35. The company had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. Innospec’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.59 earnings per share. Equities research analysts anticipate that Innospec will post 5.88 EPS for the current year.

Innospec Increases Dividend

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

Insider Activity at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now owns 9,028 shares in the company, valued at approximately $1,109,721.76. This trade represents a 10.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Innospec

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in 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 purchasing an additional 650 shares during the last quarter. nVerses Capital LLC raised its holdings in Innospec by 200.0% during the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 600 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Innospec during the 2nd quarter valued at $184,000. Point72 Asset Management L.P. purchased a new stake in Innospec during the 3rd quarter valued at $215,000. Finally, Claro Advisors LLC bought a new stake in Innospec in the 4th quarter worth $220,000. Hedge funds and other institutional investors own 96.64% 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.