Innospec (IOSP) Downgraded by BidaskClub to Sell
BidaskClub downgraded shares of Innospec (NASDAQ:IOSP) from a hold rating to a sell rating in a report released on Friday morning.
Several other brokerages also recently commented on IOSP. Monness Crespi & Hardt downgraded shares of Innospec from a buy rating to a neutral rating in a research report on Thursday, November 9th. KeyCorp reiterated an overweight rating on shares of Innospec in a report on Thursday, November 9th. ValuEngine upgraded shares of Innospec from a hold rating to a buy rating in a report on Thursday, November 9th. Johnson Rice upgraded shares of Innospec from a hold rating to an accumulate rating in a report on Tuesday, November 14th. Finally, Zacks Investment Research upgraded shares of Innospec from a hold rating to a buy rating and set a $76.00 price target on the stock in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $70.50.
Shares of Innospec (NASDAQ:IOSP) traded up $1.55 during mid-day trading on Friday, hitting $68.80. 178,770 shares of the stock traded hands, compared to its average volume of 86,912. The company has a market cap of $1,623.25, a P/E ratio of 15.82 and a beta of 1.20. Innospec has a 12-month low of $54.10 and a 12-month high of $74.75. The company has a quick ratio of 1.35, a current ratio of 2.24 and a debt-to-equity ratio of 0.30.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.15. The firm had revenue of $332.40 million for the quarter, compared to the consensus estimate of $309.40 million. Innospec had a net margin of 7.45% and a return on equity of 15.05%. The company’s revenue was up 61.8% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. equities analysts expect that Innospec will post 4.3 earnings per share for the current year.
The business also recently declared a semiannual dividend, which was paid on Monday, November 27th. Shareholders of record on Thursday, November 16th were issued a $0.39 dividend. This is an increase from Innospec’s previous semiannual dividend of $0.38. This represents a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, November 15th. Innospec’s payout ratio is currently 21.61%.
In other Innospec news, CFO Ian Cleminson sold 5,000 shares of Innospec stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $71.67, for a total value of $358,350.00. Following the completion of the transaction, the chief financial officer now directly owns 22,997 shares of the company’s stock, valued at approximately $1,648,194.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian Watt sold 440 shares of Innospec stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $70.17, for a total transaction of $30,874.80. Following the completion of the transaction, the vice president now directly owns 30,730 shares of the company’s stock, valued at $2,156,324.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,366 shares of company stock worth $1,743,891. 2.02% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of IOSP. Aperio Group LLC grew its stake in shares of Innospec by 12.6% in the 2nd quarter. Aperio Group LLC now owns 7,279 shares of the specialty chemicals company’s stock worth $477,000 after buying an additional 814 shares in the last quarter. Strs Ohio boosted its stake in shares of Innospec by 6.3% during the 2nd quarter. Strs Ohio now owns 13,600 shares of the specialty chemicals company’s stock worth $891,000 after purchasing an additional 800 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Innospec by 3.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 35,015 shares of the specialty chemicals company’s stock worth $2,293,000 after purchasing an additional 1,020 shares during the period. Texas Permanent School Fund boosted its stake in shares of Innospec by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 17,618 shares of the specialty chemicals company’s stock worth $1,155,000 after purchasing an additional 190 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Innospec by 100.1% during the 2nd quarter. Sei Investments Co. now owns 36,827 shares of the specialty chemicals company’s stock worth $2,414,000 after purchasing an additional 18,420 shares during the period. 91.20% of the stock is owned by institutional investors and hedge funds.
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Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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