Innospec (NASDAQ:IOSP) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Innospec Inc. (NASDAQ:IOSP) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $78.33 and traded as high as $83.70. Innospec shares last traded at $81.84, with a volume of 179,235 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings cut Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce”.

Innospec Price Performance

The company’s 50 day moving average price is $79.84 and its two-hundred day moving average price is $78.39. The stock has a market capitalization of $2.04 billion, a PE ratio of 18.04, a P/E/G ratio of 2.28 and a beta of 0.92.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. The firm had revenue of $453.20 million for the quarter, compared to analyst estimates of $432.14 million. Innospec had a net margin of 6.38% and a return on equity of 9.32%. Innospec’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 earnings per share. Analysts forecast that Innospec Inc. will post 4.8 earnings per share for the current year.

Innospec Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a $0.92 dividend. The ex-dividend date was Tuesday, May 19th. This represents a dividend yield of 239.0%. Innospec’s dividend payout ratio is 40.09%.

Institutional Investors Weigh In On Innospec

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its stake in Innospec by 271.0% during the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 420 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 487 shares in the last quarter. Allworth Financial LP increased its stake in shares of Innospec by 31.0% in the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 139 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Innospec in the 3rd quarter worth $46,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Innospec by 316.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 503 shares during the period. Institutional investors and hedge funds 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.