Innospec (NASDAQ:IOSP) Reaches New 52-Week Low – What’s Next?

Innospec Inc. (NASDAQ:IOSP)’s share price hit a new 52-week low on Friday . The company traded as low as $103.71 and last traded at $105.98, with a volume of 11714 shares changing hands. The stock had previously closed at $106.62.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Innospec Price Performance

The firm has a 50-day simple moving average of $114.83 and a 200-day simple moving average of $115.19. The firm has a market capitalization of $2.62 billion, a PE ratio of 18.36 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data 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 company had revenue of $443.40 million for the quarter, compared to the consensus estimate of $442.13 million. During the same quarter last year, the firm posted $1.59 earnings per share. The firm’s revenue was down 4.5% compared to the same quarter last year. Equities analysts expect that Innospec Inc. 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 was Monday, November 18th. Innospec’s dividend payout ratio is 27.57%.

Insider Buying and Selling

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Innospec

A number of institutional investors have recently bought and sold shares of the business. Inspire Advisors LLC grew its position in shares of Innospec by 1.6% during the second quarter. Inspire Advisors LLC now owns 6,819 shares of the specialty chemicals company’s stock worth $843,000 after purchasing an additional 110 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Innospec by 1.9% in the second quarter. Arizona State Retirement System now owns 6,962 shares of the specialty chemicals company’s stock valued at $860,000 after purchasing an additional 128 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Innospec by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 21,891 shares of the specialty chemicals company’s stock valued at $2,706,000 after purchasing an additional 129 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Innospec by 5.2% in the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock worth $350,000 after buying an additional 154 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Innospec by 7.9% during the 3rd quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock valued at $238,000 after buying an additional 155 shares in the last quarter. Hedge funds and other institutional investors 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.