Innospec (IOSP) Downgraded to Sell at BidaskClub
BidaskClub lowered shares of Innospec (NASDAQ:IOSP) from a hold rating to a sell rating in a research note published on Friday morning.
Other equities research analysts have also recently issued reports about the stock. Johnson Rice raised shares of Innospec from a hold rating to an accumulate rating in a research report on Tuesday, November 14th. Monness Crespi & Hardt cut shares of Innospec from a buy rating to a neutral rating in a research report on Thursday, November 9th. KeyCorp reiterated an overweight rating on shares of Innospec in a research note on Thursday, November 9th. ValuEngine upgraded shares of Innospec from a hold rating to a buy rating in a research note on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of Innospec from a buy rating to a hold rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Innospec currently has an average rating of Hold and an average target price of $70.50.
Shares of Innospec (NASDAQ IOSP) opened at $68.90 on Friday. The stock has a market cap of $1,660.69, a price-to-earnings ratio of 16.19 and a beta of 1.20. Innospec has a 1 year low of $54.10 and a 1 year high of $74.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.35 and a current ratio of 2.24.
Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.15. The business had revenue of $332.40 million during the quarter, compared to analysts’ expectations of $309.40 million. Innospec had a net margin of 7.45% and a return on equity of 15.05%. The company’s revenue for the quarter was up 61.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. research analysts anticipate that Innospec will post 4.3 earnings per share for the current year.
The business also recently declared a semiannual dividend, which was paid on Monday, November 27th. Investors of record on Thursday, November 16th were paid a dividend of $0.39 per share. This is a positive change from Innospec’s previous semiannual dividend of $0.38. This represents a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, November 15th. Innospec’s dividend payout ratio (DPR) is currently 21.61%.
In related news, insider Philip Curran sold 1,352 shares of Innospec stock in a transaction on Friday, November 24th. The shares were sold at an average price of $71.05, for a total transaction of $96,059.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brian Watt sold 440 shares of Innospec stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $70.17, for a total transaction of $30,874.80. Following the sale, the vice president now owns 30,730 shares in the company, valued at $2,156,324.10. The disclosure for this sale can be found here. Insiders have sold a total of 24,366 shares of company stock worth $1,743,891 over the last quarter. 2.02% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Innospec in the second quarter valued at $106,000. Victory Capital Management Inc. increased its stake in Innospec by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,720 shares of the specialty chemicals company’s stock valued at $178,000 after purchasing an additional 409 shares during the period. Pinebridge Investments L.P. increased its stake in Innospec by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock valued at $209,000 after purchasing an additional 41 shares during the period. Amalgamated Bank increased its stake in Innospec by 1.8% in the second quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 57 shares during the period. Finally, Suntrust Banks Inc. increased its stake in Innospec by 4.0% in the second quarter. Suntrust Banks Inc. now owns 3,996 shares of the specialty chemicals company’s stock valued at $261,000 after purchasing an additional 155 shares during the period. Institutional investors 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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