Leslie Parrette Acquires 340 Shares of Innospec (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) Director Leslie Parrette bought 340 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired 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 in the company, valued at $432,463.33. This trade represents a 6.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Innospec Price Performance

Shares of IOSP opened at $71.15 on Wednesday. The firm has a market cap of $1.76 billion, a P/E ratio of 91.22 and a beta of 1.06. Innospec Inc. has a 1 year low of $70.34 and a 1 year high of $122.19. The company has a 50 day simple moving average of $76.55 and a two-hundred day simple moving average of $82.43.

Innospec (NASDAQ:IOSP) last issued 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 firm had revenue of $441.90 million during the quarter, compared to analyst estimates of $443.00 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. Innospec’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. On average, sell-side analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current year.

Innospec Announces Dividend

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

Institutional Investors Weigh In On Innospec

Several large investors have recently added to or reduced their stakes in IOSP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Innospec in the 2nd quarter valued at approximately $28,000. Versant Capital Management Inc raised its holdings in Innospec by 378.1% during the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after buying an additional 431 shares during the period. EverSource Wealth Advisors LLC lifted its position in Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 487 shares during the last quarter. Blue Trust Inc. boosted its stake in Innospec by 38.3% during the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock worth $57,000 after buying an additional 186 shares during the period. Finally, State of Wyoming increased its position in Innospec by 27.5% during the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after acquiring an additional 173 shares during the last quarter. 96.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IOSP. Wall Street Zen lowered Innospec from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Zacks Research cut Innospec from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings lowered shares of Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, Innospec presently has an average rating of “Hold”.

About Innospec

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 additives in diesel, jet, marine, fuel oil and other fuels.