Innospec (NASDAQ:IOSP) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Innospec (NASDAQ:IOSP) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning.

Innospec Stock Performance

Shares of IOSP opened at $109.38 on Wednesday. The stock has a market capitalization of $2.73 billion, a PE ratio of 19.09 and a beta of 1.09. The company’s fifty day moving average is $115.63 and its 200 day moving average is $117.14. Innospec has a fifty-two week low of $103.97 and a fifty-two week high of $133.71.

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

Innospec Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders 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 Transactions at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total value of $127,222.20. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.52% of the company’s stock.

Institutional Trading of Innospec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Innospec by 503.9% during the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock valued at $96,000 after buying an additional 650 shares during the period. nVerses Capital LLC boosted 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 acquiring an additional 600 shares during the period. Point72 DIFC Ltd bought a new position in Innospec in the 2nd quarter valued at $184,000. Point72 Asset Management L.P. purchased a new stake in Innospec in the third quarter worth $215,000. Finally, Sanctuary Advisors LLC purchased a new stake in Innospec in the second quarter worth $233,000. 96.64% of the stock is owned by hedge funds and other 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.