Innospec Inc. (NASDAQ:IOSP) Given Average Recommendation of “Hold” by Brokerages

by · The Cerbat Gem

Shares of Innospec Inc. (NASDAQ:IOSP – Get Free Report) have been given an average recommendation of “Hold” by the three research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and one has assigned a strong buy recommendation to the company.

IOSP has been the topic of a number of research analyst reports. Zacks Research lowered Innospec from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Innospec in a research note on Monday. Finally, Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th.

View Our Latest Research Report on Innospec

Insider Activity at Innospec

In other Innospec news, Director Leslie J. Parrette bought 340 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $74.09 per share, for a total transaction of $25,190.60. Following the acquisition, the director directly owned 5,837 shares of the company’s stock, valued at $432,463.33. This trade represents a 6.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Innospec

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

Innospec Trading Up 0.0%

Shares of NASDAQ:IOSP opened at $78.11 on Monday. The firm’s 50 day moving average is $75.03 and its two-hundred day moving average is $80.22. The firm has a market capitalization of $1.94 billion, a P/E ratio of -2,603.50 and a beta of 0.93. Innospec has a 52 week low of $70.10 and a 52 week high of $117.08.

Innospec (NASDAQ:IOSP – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. The business had revenue of $441.90 million during the quarter, compared to analyst estimates of $443.00 million. Innospec had a positive return on equity of 10.28% and a negative net margin of 0.07%.The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.35 EPS. Analysts predict that Innospec will post 6.18 EPS for the current year.

Innospec Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were paid a dividend of $0.87 per share. This represents a yield of 245.0%. The ex-dividend date of this dividend was Tuesday, November 18th. Innospec’s dividend payout ratio (DPR) is presently -5,800.00%.

Innospec Company Profile

(Get Free Report)

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.

Read More