StockNews.com Downgrades Innospec (NASDAQ:IOSP) to Buy

StockNews.com lowered shares of Innospec (NASDAQ:IOSP) from a strong-buy rating to a buy rating in a research report released on Saturday.

Innospec Trading Up 2.6 %

NASDAQ IOSP opened at $107.92 on Friday. The stock’s fifty day moving average price is $114.83 and its 200-day moving average price is $115.13. The stock has a market cap of $2.69 billion, a P/E ratio of 18.83 and a beta of 1.09. Innospec has a 12 month low of $103.65 and a 12 month high of $133.71.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts’ expectations of $442.13 million. During the same period in the previous year, the company earned $1.59 earnings per share. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, analysts forecast that Innospec will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were issued a $0.79 dividend. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. The ex-dividend date of this dividend was Monday, November 18th. This represents a dividend yield of 1.3%. Innospec’s dividend payout ratio (DPR) is presently 27.57%.

Insider Transactions at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of the business’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 transaction of $127,222.20. Following the completion of the transaction, the director now directly owns 9,028 shares of the company’s stock, valued at $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Innospec

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in shares of Innospec by 503.9% during the 3rd 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 during the period. nVerses Capital LLC grew its holdings in shares of Innospec by 200.0% in the third 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 period. Point72 DIFC Ltd purchased a new stake in Innospec during the second quarter valued at $184,000. Point72 Asset Management L.P. bought a new position in Innospec in the third quarter valued at about $215,000. Finally, Claro Advisors LLC purchased a new position in Innospec in the fourth quarter worth about $220,000. Institutional investors own 96.64% of the company’s stock.

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.