Innospec Inc. (NASDAQ:IOSP) Short Interest Update

Innospec Inc. (NASDAQ:IOSP) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 521,031 shares, an increase of 21.9% from the December 15th total of 427,466 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 234,140 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 234,140 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.1% of the company’s stock are sold short.

Innospec Stock Down 0.8%

Shares of NASDAQ:IOSP opened at $79.25 on Wednesday. Innospec has a 12-month low of $70.10 and a 12-month high of $117.08. The stock has a market cap of $1.96 billion, a PE ratio of -2,641.67 and a beta of 0.91. The business has a 50 day moving average of $76.71 and a 200-day moving average of $79.32.

Innospec (NASDAQ:IOSP) last announced its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. The company had revenue of $441.90 million for the quarter, compared to analyst estimates of $443.00 million. Innospec had a positive return on equity of 10.28% and a negative net margin of 0.07%.The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $1.35 earnings per share. Equities research analysts expect that Innospec will post 6.18 earnings per share for the current year.

Innospec Dividend Announcement

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

Insider Activity

In other news, Director Leslie J. Parrette acquired 340 shares of the stock in a transaction dated Friday, November 14th. The shares were bought at an average cost of $74.09 per share, for a total transaction of $25,190.60. Following the purchase, the director directly owned 5,837 shares of the company’s stock, valued at approximately $432,463.33. This trade represents a 6.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Innospec

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC increased its position in Innospec by 65.5% during the fourth quarter. Signaturefd LLC now owns 993 shares of the specialty chemicals company’s stock worth $76,000 after acquiring an additional 393 shares during the period. Wedge Capital Management L L P NC grew its position in shares of Innospec by 20.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 19,699 shares of the specialty chemicals company’s stock worth $1,508,000 after purchasing an additional 3,354 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Innospec by 291.0% during the 4th quarter. SG Americas Securities LLC now owns 75,814 shares of the specialty chemicals company’s stock worth $5,803,000 after purchasing an additional 56,425 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Innospec by 37.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 178,204 shares of the specialty chemicals company’s stock worth $13,640,000 after purchasing an additional 48,807 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Innospec by 25.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,223 shares of the specialty chemicals company’s stock valued at $725,000 after buying an additional 1,892 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IOSP has been the topic of a number of recent analyst reports. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Innospec in a report on Monday, December 22nd. Finally, Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Innospec presently has a consensus rating of “Hold”.

About Innospec

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.