Innospec (NASDAQ:IOSP) Hits New 1-Year Low – Time to Sell?

Innospec Inc. (NASDAQ:IOSP)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $103.71 and last traded at $105.98, with a volume of 11714 shares changing hands. The stock had previously closed at $106.62.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Innospec Stock Down 1.3 %

The company’s fifty day simple moving average is $114.83 and its 200 day simple moving average is $115.19. The firm has a market capitalization of $2.62 billion, a PE ratio of 18.36 and a beta of 1.09.

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

Innospec Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were paid a $0.79 dividend. This represents a dividend yield of 1.3%. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. The ex-dividend date of this dividend was Monday, November 18th. Innospec’s dividend payout ratio (DPR) is presently 27.57%.

Insider Buying and Selling

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the completion of the transaction, the director now owns 9,028 shares in the company, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Innospec

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its position in Innospec by 503.9% during the 3rd 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 lifted its position in Innospec by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 600 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Innospec in the 2nd quarter worth $184,000. Point72 Asset Management L.P. purchased a new position in shares of Innospec in the third quarter worth $215,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Innospec during the second quarter valued at $233,000. 96.64% of the stock is currently owned by institutional investors.

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.