FY2024 EPS Estimates for Innospec Lifted by Seaport Res Ptn

Innospec Inc. (NASDAQ:IOSP) – Equities researchers at Seaport Res Ptn boosted their FY2024 earnings estimates for Innospec in a report released on Wednesday, November 6th. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will earn $5.89 per share for the year, up from their prior forecast of $5.86. The consensus estimate for Innospec’s current full-year earnings is $5.88 per share. Seaport Res Ptn also issued estimates for Innospec’s Q1 2025 earnings at $1.36 EPS, Q2 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.53 EPS and Q4 2025 earnings at $1.68 EPS.

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

Innospec Stock Down 2.0 %

Innospec stock opened at $121.93 on Monday. The company has a fifty day simple moving average of $111.99 and a 200-day simple moving average of $118.82. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 21.28 and a beta of 1.08. Innospec has a 52-week low of $100.77 and a 52-week high of $133.71.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) 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 business had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. During the same quarter in the prior year, the firm earned $1.59 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IOSP. DekaBank Deutsche Girozentrale acquired a new position in shares of Innospec in the 1st quarter worth approximately $66,000. CWM LLC lifted its holdings in shares of Innospec by 239.6% in the 2nd quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock worth $78,000 after acquiring an additional 448 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Innospec by 503.9% in the 3rd quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock worth $96,000 after acquiring an additional 650 shares during the last quarter. nVerses Capital LLC lifted its holdings in shares of Innospec by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 600 shares during the last quarter. Finally, Motco acquired a new position in shares of Innospec in the 1st quarter worth approximately $132,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Insider Activity at Innospec

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the sale, the chief financial officer now owns 12,996 shares of the company’s stock, valued at $1,491,161.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is currently owned by insiders.

Innospec Increases Dividend

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

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.