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

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

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

Innospec Stock Performance

Shares of IOSP opened at $81.89 on Friday. The stock has a 50-day moving average price of $76.47 and a 200 day moving average price of $79.59. The company has a market capitalization of $2.03 billion, a P/E ratio of -2,729.67 and a beta of 0.91. Innospec has a one year low of $70.10 and a one year high of $117.08.

Innospec (NASDAQ:IOSP) last released its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, topping 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 company had revenue of $441.90 million for the quarter, compared to the consensus estimate of $443.00 million. During the same quarter last year, the business posted $1.35 EPS. Innospec’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts forecast that Innospec will post 6.18 earnings per share for the current fiscal year.

Innospec Announces Dividend

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

Insider Transactions at Innospec

In other Innospec news, Director Leslie J. Parrette purchased 340 shares of the business’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $74.09 per share, with a total value of $25,190.60. Following the acquisition, the director owned 5,837 shares of the company’s stock, valued at $432,463.33. The trade was a 6.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Innospec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its position in shares of Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Innospec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock worth $1,405,000 after buying an additional 645 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after buying an additional 168,355 shares during the period. NewEdge Advisors LLC raised its stake in shares of Innospec by 37.4% during the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $433,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Innospec by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock worth $12,545,000 after purchasing an additional 8,014 shares during the last quarter. 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.