Innospec (NASDAQ:IOSP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Innospec (NASDAQ:IOSP) from a hold rating to a buy rating in a report issued on Saturday.

A number of other research analysts have also recently commented on IOSP. Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 1st. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Innospec Stock Down 0.4%

IOSP stock opened at $83.95 on Friday. The firm has a market cap of $2.07 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.32 and a beta of 0.93. The company’s 50-day moving average price is $81.88 and its two-hundred day moving average price is $78.97. Innospec has a 12 month low of $65.51 and a 12 month high of $92.14.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The business had revenue of $453.20 million for the quarter, compared to analysts’ expectations of $432.14 million. During the same period last year, the firm posted $1.42 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that Innospec will post 4.84 EPS for the current year.

Innospec Announces Dividend

The company also recently announced a dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.92 dividend. This represents a dividend yield of 239.0%. The ex-dividend date was Tuesday, May 19th. Innospec’s dividend payout ratio (DPR) is currently 40.09%.

Hedge Funds Weigh In On Innospec

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Innospec by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,242,089 shares of the specialty chemicals company’s stock valued at $90,698,000 after buying an additional 66,967 shares during the last quarter. Victory Capital Management Inc. raised its position in Innospec by 13.7% in the fourth quarter. Victory Capital Management Inc. now owns 950,074 shares of the specialty chemicals company’s stock worth $72,719,000 after acquiring an additional 114,179 shares during the period. State Street Corp lifted its stake in Innospec by 2.1% in the fourth quarter. State Street Corp now owns 949,038 shares of the specialty chemicals company’s stock valued at $72,639,000 after purchasing an additional 19,915 shares during the last quarter. Millennium Management LLC lifted its position in shares of Innospec by 10.8% during the 4th quarter. Millennium Management LLC now owns 533,312 shares of the specialty chemicals company’s stock valued at $40,820,000 after buying an additional 51,824 shares during the last quarter. Finally, Nuveen LLC boosted its position in Innospec by 22.2% during the fourth quarter. Nuveen LLC now owns 502,603 shares of the specialty chemicals company’s stock worth $38,469,000 after purchasing an additional 91,326 shares during the period. 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.