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

Shares of Innospec Inc. (NASDAQ:IOSP) have received a consensus recommendation of “Hold” from the three brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company.

A number of analysts have commented on the stock. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Innospec in a research report on Monday, December 22nd. Finally, Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th.

Innospec Stock Performance

IOSP stock opened at $79.25 on Friday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -2,641.67 and a beta of 0.91. The business’s 50-day moving average is $76.71 and its two-hundred day moving average is $79.32. Innospec has a fifty-two week low of $70.10 and a fifty-two week high of $117.08.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $441.90 million during the quarter, compared to the consensus estimate of $443.00 million. During the same period in the previous year, the company posted $1.35 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts predict that Innospec will post 6.18 earnings per share for the current year.

Innospec Dividend Announcement

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

Insider Buying and Selling at Innospec

In related news, Director Leslie J. Parrette acquired 340 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average cost of $74.09 per share, for a total transaction of $25,190.60. Following the purchase, the director owned 5,837 shares in the company, valued at $432,463.33. The trade was a 6.19% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Innospec

Large investors have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Innospec during the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings in Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 487 shares during the period. Versant Capital Management Inc raised its holdings in Innospec by 378.1% during the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 431 shares during the period. Allworth Financial LP lifted its position in shares of Innospec by 31.0% in the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 139 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of Innospec in the third quarter worth about $46,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Company Profile

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.