Innospec Inc. (NASDAQ:IOSP) Short Interest Update

Innospec Inc. (NASDAQ:IOSP) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 521,031 shares, a growth of 21.9% from the December 15th total of 427,466 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average daily volume of 234,140 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily volume of 234,140 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.1% of the company’s shares are sold short.

Analysts Set New Price Targets

IOSP has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Innospec in a report on Monday, December 22nd. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Insider Buying and Selling

In related news, Director Leslie J. Parrette bought 340 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $74.09 per share, with a total value of $25,190.60. Following the completion of the transaction, the director owned 5,837 shares of the company’s stock, valued at approximately $432,463.33. The trade was a 6.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Medina Value Partners LLC purchased a new stake in Innospec during the 3rd quarter worth approximately $18,206,000. Millennium Management LLC lifted its position in shares of Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after purchasing an additional 168,355 shares during the last quarter. Norges Bank bought a new position in shares of Innospec during the second quarter worth about $11,230,000. Qube Research & Technologies Ltd grew its stake in Innospec by 72.1% in the second quarter. Qube Research & Technologies Ltd now owns 306,761 shares of the specialty chemicals company’s stock worth $25,796,000 after purchasing an additional 128,544 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Innospec by 512.0% in the third quarter. Assenagon Asset Management S.A. now owns 129,397 shares of the specialty chemicals company’s stock valued at $9,984,000 after buying an additional 108,254 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Stock Performance

Innospec stock traded down $2.03 during trading on Monday, reaching $79.86. 150,836 shares of the company’s stock were exchanged, compared to its average volume of 162,185. Innospec has a 52-week low of $70.10 and a 52-week high of $117.08. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -2,662.00 and a beta of 0.91. The company’s 50-day moving average is $76.54 and its two-hundred day moving average is $79.45.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, topping 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 firm had revenue of $441.90 million for the quarter, compared to analyst estimates of $443.00 million. During the same period in the previous year, the company posted $1.35 EPS. Innospec’s revenue for the quarter was down .3% on a year-over-year basis. Analysts anticipate that Innospec will post 6.18 EPS for the current year.

Innospec Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were given 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 presently -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.