Innospec (NASDAQ:IOSP) Releases Quarterly Earnings Results, Hits Expectations

Innospec (NASDAQ:IOSP) issued its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.35 EPS for the quarter, hitting the consensus estimate of $1.35, Briefing.com reports. The firm had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. Innospec had a net margin of 7.90% and a return on equity of 14.15%. Innospec’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.59 earnings per share.

Innospec Trading Down 3.9 %

Shares of IOSP stock opened at $120.00 on Friday. The company has a market cap of $2.99 billion, a PE ratio of 20.10 and a beta of 1.08. The company’s fifty day simple moving average is $111.48 and its 200-day simple moving average is $118.83. Innospec has a 52 week low of $100.50 and a 52 week high of $133.71.

Innospec Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.79 per share. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, November 18th. Innospec’s payout ratio is currently 25.46%.

Insider Buying and Selling

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $114.74, for a total transaction of $389,886.52. Following the transaction, the chief financial officer now owns 12,996 shares in the company, valued at $1,491,161.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.