Innospec Inc. (NASDAQ:IOSP) CFO Ian Cleminson sold 2,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $99.40, for a total value of $198,800.00. Following the completion of the transaction, the chief financial officer now owns 20,997 shares of the company’s stock, valued at approximately $2,087,101.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Innospec stock traded down $1.87 during mid-day trading on Thursday, reaching $96.22. 4,294 shares of the stock traded hands, compared to its average volume of 108,391. The stock has a market capitalization of $2.45 billion, a PE ratio of 19.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 1.42. Innospec Inc. has a 12-month low of $53.07 and a 12-month high of $107.10. The business’s 50-day moving average is $91.29 and its 200-day moving average is $88.25.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. The company had revenue of $371.90 million during the quarter, compared to analysts’ expectations of $367.65 million. Innospec had a return on equity of 15.52% and a net margin of 6.69%. Innospec’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, November 18th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.50. Innospec’s dividend payout ratio is 20.70%.
Several research firms have recently weighed in on IOSP. BidaskClub cut Innospec from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. CL King started coverage on Innospec in a research report on Wednesday, September 4th. They set a “buy” rating and a $95.00 price objective for the company. Finally, ValuEngine upgraded Innospec from a “strong sell” rating to a “sell” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $90.67.
A number of institutional investors have recently bought and sold shares of IOSP. HM Payson & Co. purchased a new stake in Innospec during the second quarter valued at $83,000. James Investment Research Inc. increased its position in Innospec by 72.7% during the third quarter. James Investment Research Inc. now owns 950 shares of the specialty chemicals company’s stock valued at $85,000 after acquiring an additional 400 shares during the last quarter. Meeder Asset Management Inc. increased its position in Innospec by 94.0% during the second quarter. Meeder Asset Management Inc. now owns 943 shares of the specialty chemicals company’s stock valued at $86,000 after acquiring an additional 457 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Innospec during the second quarter valued at $108,000. Finally, Convergence Investment Partners LLC purchased a new stake in Innospec during the third quarter valued at $118,000. Institutional investors own 91.76% of the company’s stock.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
See Also: After-Hours Trading
Receive News & Ratings for Innospec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec and related companies with MarketBeat.com's FREE daily email newsletter.