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

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

Innospec Trading Up 0.5 %

IOSP opened at $109.71 on Wednesday. The stock has a market capitalization of $2.74 billion, a P/E ratio of 19.15 and a beta of 1.09. Innospec has a 12 month low of $103.97 and a 12 month high of $133.71. The firm’s fifty day simple moving average is $115.50 and its 200 day simple moving average is $116.96.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results 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 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 company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 earnings per share. On average, equities research analysts predict that Innospec will post 5.88 EPS for the current fiscal year.

Innospec Increases Dividend

The firm also recently disclosed 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 is an increase from Innospec’s previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. Innospec’s dividend payout ratio (DPR) is 27.57%.

Insider Buying and Selling

In related news, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was 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 represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of 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 buying an additional 650 shares in the last quarter. nVerses Capital LLC grew its position 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 valued at $102,000 after acquiring an additional 600 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Innospec during the 2nd quarter worth about $184,000. Point72 Asset Management L.P. acquired a new position in shares of Innospec during the 3rd quarter worth about $215,000. Finally, Sanctuary Advisors LLC acquired a new stake in Innospec in the 2nd quarter valued at about $233,000. Institutional investors and hedge funds 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.