Equities research analysts expect Innospec Inc. (NASDAQ:IOSP – Get Rating) to post sales of $437.60 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Innospec’s earnings, with the lowest sales estimate coming in at $436.50 million and the highest estimate coming in at $438.70 million. Innospec posted sales of $354.50 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.4%. The business is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Innospec will report full year sales of $1.80 billion for the current year, with estimates ranging from $1.79 billion to $1.81 billion. For the next fiscal year, analysts expect that the company will report sales of $1.90 billion, with estimates ranging from $1.89 billion to $1.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Innospec.
Innospec (NASDAQ:IOSP – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.34. Innospec had a net margin of 6.57% and a return on equity of 12.87%. The business had revenue of $472.40 million during the quarter, compared to analysts’ expectations of $397.67 million. During the same quarter in the previous year, the company earned $1.06 EPS. The business’s revenue was up 39.1% on a year-over-year basis.
Shares of Innospec stock opened at $102.09 on Monday. Innospec has a twelve month low of $81.00 and a twelve month high of $107.14. The company has a 50-day simple moving average of $96.02 and a two-hundred day simple moving average of $93.56. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 23.96 and a beta of 1.19.
The business also recently declared a Semi-Annual dividend, which will be paid on Thursday, May 26th. Investors of record on Tuesday, May 17th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, May 16th. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.59. This represents a dividend yield of 1.3%. Innospec’s payout ratio is 29.58%.
In other Innospec news, Director David Landless sold 348 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $96.78, for a total transaction of $33,679.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ian Cleminson sold 2,035 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $96.78, for a total transaction of $196,947.30. The disclosure for this sale can be found here. Insiders have sold a total of 15,713 shares of company stock worth $1,521,521 over the last ninety days. 1.52% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Innospec by 9.5% in the 4th quarter. BlackRock Inc. now owns 4,268,047 shares of the specialty chemicals company’s stock worth $385,574,000 after purchasing an additional 370,154 shares during the period. Vanguard Group Inc. lifted its position in shares of Innospec by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,763,854 shares of the specialty chemicals company’s stock worth $255,795,000 after purchasing an additional 47,348 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Innospec in the 4th quarter worth approximately $219,891,000. Royce & Associates LP lifted its position in shares of Innospec by 12.8% in the 4th quarter. Royce & Associates LP now owns 1,351,487 shares of the specialty chemicals company’s stock worth $122,093,000 after purchasing an additional 153,469 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Innospec by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,168,986 shares of the specialty chemicals company’s stock worth $108,190,000 after purchasing an additional 11,943 shares during the period. Hedge funds and other institutional investors own 95.48% of the company’s stock.
Innospec Company Profile (Get Rating)
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in various fuels.
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