Innospec Inc. (NASDAQ:IOSP) Receives Average Rating of “Hold” from Analysts

Innospec Inc. (NASDAQ:IOSP) has been given an average recommendation of “Hold” by the three analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and one has assigned a strong buy recommendation to the company.

Several analysts have weighed in on the company. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Innospec in a research note on Monday. Finally, Zacks Research lowered shares of Innospec from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th.

Insider Buying and Selling

In other news, Director Leslie J. Parrette bought 340 shares of Innospec stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average price of $74.09 per share, with a total value of $25,190.60. Following the completion of the purchase, the director directly owned 5,837 shares in the company, valued at $432,463.33. The trade was a 6.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Innospec

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP increased its position in shares of Innospec by 31.0% during the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 139 shares during the last quarter. Connors Investor Services Inc. boosted its stake in Innospec by 56.1% in the third quarter. Connors Investor Services Inc. now owns 33,673 shares of the specialty chemicals company’s stock worth $2,598,000 after buying an additional 12,107 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Innospec during the third quarter valued at approximately $207,000. Danske Bank A S bought a new position in Innospec during the third quarter valued at approximately $46,000. Finally, NewEdge Advisors LLC raised its stake in shares of Innospec by 19.1% during the third quarter. NewEdge Advisors LLC now owns 5,363 shares of the specialty chemicals company’s stock worth $414,000 after acquiring an additional 860 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Price Performance

IOSP opened at $78.40 on Monday. The firm has a market capitalization of $1.94 billion, a P/E ratio of -2,613.33 and a beta of 0.93. Innospec has a one year low of $70.10 and a one year high of $117.08. The company has a fifty day moving average price of $75.20 and a 200-day moving average price of $80.14.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.09. Innospec had a positive return on equity of 10.28% and a negative net margin of 0.07%.The company had revenue of $441.90 million during the quarter, compared to analyst estimates of $443.00 million. During the same quarter last year, the company earned $1.35 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts expect that Innospec will post 6.18 earnings per share for the current year.

Innospec Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.87 per share. This represents a dividend yield of 245.0%. The ex-dividend date of this dividend was Tuesday, November 18th. Innospec’s payout ratio is currently -5,800.00%.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.