Innospec Inc. (IOSP) CFO Sells $36,853.40 in Stock
Innospec Inc. (NASDAQ:IOSP) CFO Ian Cleminson sold 515 shares of Innospec stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $71.56, for a total value of $36,853.40. Following the transaction, the chief financial officer now owns 28,878 shares of the company’s stock, valued at $2,066,509.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Ian Cleminson also recently made the following trade(s):
- On Thursday, November 30th, Ian Cleminson sold 5,000 shares of Innospec stock. The stock was sold at an average price of $71.67, for a total value of $358,350.00.
Innospec Inc. (NASDAQ IOSP) traded down $1.15 on Friday, reaching $68.90. The company had a trading volume of 72,917 shares, compared to its average volume of 95,452. The company has a market cap of $1,660.00, a P/E ratio of 16.48 and a beta of 1.20. Innospec Inc. has a twelve month low of $54.10 and a twelve month high of $74.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.24 and a quick ratio of 1.35.
Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.15. The business had revenue of $332.40 million during the quarter, compared to the consensus estimate of $309.40 million. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The firm’s quarterly revenue was up 61.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. sell-side analysts predict that Innospec Inc. will post 4.3 EPS for the current year.
The company also recently declared a semiannual dividend, which was paid on Monday, November 27th. Investors of record on Thursday, November 16th were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This is an increase from Innospec’s previous semiannual dividend of $0.38. This represents a yield of 1.12%. Innospec’s payout ratio is 21.55%.
Several research analysts have recently commented on the company. Monness Crespi & Hardt downgraded Innospec from a “buy” rating to a “neutral” rating in a research note on Thursday, November 9th. KeyCorp reiterated an “overweight” rating on shares of Innospec in a research note on Thursday, November 9th. ValuEngine upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Johnson Rice upgraded Innospec from a “hold” rating to an “accumulate” rating in a research note on Tuesday, November 14th. Finally, Zacks Investment Research upgraded Innospec from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Innospec presently has a consensus rating of “Hold” and a consensus target price of $70.50.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Innospec by 2.4% in the 2nd quarter. BlackRock Inc. now owns 3,041,897 shares of the specialty chemicals company’s stock valued at $199,396,000 after purchasing an additional 70,615 shares during the period. FMR LLC boosted its stake in Innospec by 0.6% in the 2nd quarter. FMR LLC now owns 2,612,586 shares of the specialty chemicals company’s stock valued at $171,256,000 after purchasing an additional 16,353 shares during the period. Vanguard Group Inc. raised its holdings in Innospec by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,185,201 shares of the specialty chemicals company’s stock valued at $143,239,000 after acquiring an additional 82,013 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Innospec by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,359,181 shares of the specialty chemicals company’s stock valued at $83,793,000 after acquiring an additional 11,097 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Innospec by 12.4% in the 3rd quarter. Wells Fargo & Company MN now owns 1,063,714 shares of the specialty chemicals company’s stock valued at $65,578,000 after acquiring an additional 117,395 shares in the last quarter. Institutional investors and hedge funds own 91.20% of the company’s stock.
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Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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